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Wednesday, December 24, 2008
Friday, December 19, 2008
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The union government announced its much awaited booster doze for the economy this week. A significant chunk of this package goes to real estate and infrastructure segment. The Reserve Bank of India has allotted refinance facility of Rs4,000 crore for National Housing Bank. Public sector banks would shortly announce a special package for home loan borrowers in two categories - up to Rs5 lakh and Rs5 lakh to Rs20 lakh. Real estate developers welcomed the move, but added it did not go far enough.
Govt rolls out Rs20,000 cr economy booster dose
The union government announced its much awaited booster doze for the economy this week. A significant chunk of this package goes to real estate and infrastructure segment. The Reserve Bank of India has allotted refinance facility of Rs4,000 crore for National Housing Bank. Public sector banks would shortly announce a special package for home loan borrowers in two categories - up to Rs5 lakh and Rs5 lakh to Rs20 lakh. Real estate developers welcomed the move, but added it did not go far enough.
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US-Bank Wachovia could pick up a significant equity stake in Hiranandani Realtors, part of Mumbai-based property developer Hiranandani Group. In the last one year, Wachovia has invested Rs304 crore into the Indian firm through financial instruments that will be converted into equity. Wachovia had entered into an agreement in August 2007 to invest $77 million in Hiranandani Realtors.
Wachovia may pick up stake in Hiranandani's realty arm
US-Bank Wachovia could pick up a significant equity stake in Hiranandani Realtors, part of Mumbai-based property developer Hiranandani Group. In the last one year, Wachovia has invested Rs304 crore into the Indian firm through financial instruments that will be converted into equity. Wachovia had entered into an agreement in August 2007 to invest $77 million in Hiranandani Realtors.
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India’s numero uno property developer DLF Ltd was downgraded by Merrill Lynch & Co on concern that sales will slow and prices will decline as the nation’s economic growth falters. DLF was lowered to “neutral” by Merrill’s analysts. Indiabulls Real Estate Ltd. was also downgraded to “neutral”.
DLF downgraded by Merrill on slowing growth
India’s numero uno property developer DLF Ltd was downgraded by Merrill Lynch & Co on concern that sales will slow and prices will decline as the nation’s economic growth falters. DLF was lowered to “neutral” by Merrill’s analysts. Indiabulls Real Estate Ltd. was also downgraded to “neutral”.
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India’s leading real estate and Infrastructure Company- Parsvnath Developers Limited - has received environmental clearance for the construction of office-cum-commercial project at Netaji Subhash Place metro station in Delhi. This project – called ‘Corporate Tower’ – is spread over an area of 19,400 sq mts.
Parsvnath project gets nod from Ministry of Environment
India’s leading real estate and Infrastructure Company- Parsvnath Developers Limited - has received environmental clearance for the construction of office-cum-commercial project at Netaji Subhash Place metro station in Delhi. This project – called ‘Corporate Tower’ – is spread over an area of 19,400 sq mts.
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Realtors cut pay up to 50%
Executive at real estate firms are facing job losses and salary cuts to the extent of up to 50% as sales refuse to pick up and credit remains tight. Omaxe chairman Rohtas Goel has taken salary cut of 50%. A Unitech spokesman confirmed the company had cut 10% of its 1,700 employees, and most of those who lost jobs were trainees. Delhi-based Ansal Properties and Infrastructure has also sacked 70-80 employees of its total 1,000 staff.
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Low-cost housing (LCH) is all about cutting down construction cost by using alternatives to conventional methods and inputs. It is about the usage of local and indigenous building materials, local skills, energy saver and environment friendly options. These days many real estate companies are exploring low-cost housing options to bring down the over all cost for the benefit of the use
Low-cost housing catches on in India
Low-cost housing (LCH) is all about cutting down construction cost by using alternatives to conventional methods and inputs. It is about the usage of local and indigenous building materials, local skills, energy saver and environment friendly options. These days many real estate companies are exploring low-cost housing options to bring down the over all cost for the benefit of the use
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Wachovia may pick up stake in Hiranandani's realty arm
US-Bank Wachovia could pick up a significant equity stake in Hiranandani Realtors, part of Mumbai-based property developer Hiranandani Group. In the last one year, Wachovia has invested Rs304 crore into the Indian firm through financial instruments that will be converted into equity. Wachovia had entered into an agreement in August 2007 to invest $77 million in Hiranandani Realtors.
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Leading private equity firm Actis has closed a $2.9-billion private equity fund, of which about $1 billion is likely to be invested in Indian companies over the next four years. Actis™ success bucks the trend among funds that have generally been finding it difficult to raise growth capital
Leading private equity firm Actis has closed a $2.9-billion private equity fund, of which about $1 billion is likely to be invested in Indian companies over the next four years. Actis™ success bucks the trend among funds that have generally been finding it difficult to raise growth capital
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