Indian Property News on 'September, 2007'

Shortage of Domestic Contractors for Handling Realty Projects

The task of completing pipeline projects on time can be challenging for the real estate developers, finds Prabhudas Liladhar, a leading equity broking house in India.

Since domestic contractors are already burdened with work of infrastructure development, the execution of projects could be put on hold, says the report. Read More »

DLF to Adorn Bengal with Rs 100,000 cr Realty Projects

DLF, India real estate giant, is planning to invest Rs 100,000 crore Calcutta and Dankuni real estate projects over next few years.

The company holds large land bank in Bengal. The proposed Dankuni Township is to come over a large area of 4,840 acres and will involve a huge investment of Rs 50,000 crore.

Tower-I of DLF’s first IT Park in Rajarhat has already been bought by IBM.  It is a Rs 350 crore project to include two more towers, thereby adding up to 1.3 million sq ft. Read More »

India Real Estate Hits New High

Indian real estate is making rapid strides on the back of country’s surging economy. The growing developments are also giving a boost to the Indian job market which has certainly been poised for greater dynamism after a high proliferation of IT companies.

According to a quarterly survey conducted by Manpower Inc., a global HR consultancy firm, the employer spectrum including the real estate, retail, and manufacturing has informed to have experienced a rise in their hiring activities. Read More »

Factors Pushing the Growth of Indian Realty

Increasing interest rates on home loans, oversupply in development phase, and implementation of the project are some temporary dampeners for domestic property market which are further fuelled by strong fundamentals.

According to Prabhudas Lilladhar, a leading equity broking house in India, there are long-term drivers too which include good GDP growth, increasing affordability, conducive demographics, rapid urbanization, and increasing mortgage penetration, besides an improving regulatory framework. Read More »

Uppal Housing to invest Rs 1,500 Cr in Expansion

Uppal Housing Ltd, a reputed organization in Delhi real estate market, has recently announced to invest a whopping Rs 1,500 crore by March to broaden its horizons outside the Capital and its suburbs. The company is also pondering upon a share sale in future.

Uppal plans to expand its property development business into Mumbai, Pune, Hyderabad and tier – II cities including Chandigarh. As such, the company has always kept itself focused towards Delhi, says Gian Bansal, Uppal Director and Chief Executive Officer. Read More »

Developments of Fast Growing Faridabad at a Glance

Faridabad is located amidst lush greenery in proximity to the historical Tughlakabad Fort and the ancient ruins of Surajkund. With real estate in NCR touching new highs, Faridabad tightens its grip at its position of being a growing satellite town especially if residential investments are taken into view.

Faridabad properties possess great potential which has been tapped mainly because of the real estate developments in surrounding areas of NCR. Builders have made a beeline to make a killing as the city is now a major focus area for HUDA. Read More »

Commerce Ministry Frames New Guidelines for SEZs

The Commerce & Industry Ministry has released a new set of guidelines for the state government to follow a single window clearance system for special economic zone (SEZ) units and builders.

The SEZ Act and rules released earlier promised a mechanism of single window clearance for developers and units.  However, it could not be executed at that time as state governments were not able to get their act together.

According to the guidelines, units and developers will be exempted from paying VAT and stamp duty in the processing area. The decision has been taken at a meet between representatives of commerce department and state governments. Read More »

A Real Estate Fund by IL&FS, Milestone

Infrastructure Leasing and Financial Services Limited (IL&FS) and Milestone Capital Advisors on Monday launched a real estate investment fund – IL&FS-Milestone Fund-I.  The main purpose of the initiative is to raise Rs 1,000 crore to invest in leased properties.

The fund managers envision to raise around Rs 500 crore along with a green shoe option of Rs 500 crore. The life period of the fund is four years and it may be listed after three years. Read More »

India’s Tourism Potential May Come to a Halt

Tourism in India is zooming upwards with an impressive growth of 15.1% in first six months of 2007. Considering the lack of accommodation facilities in the country, maintaining such a surge seems a little difficult.

Surprisingly, around 30-35% airlines cancellation have been reported in the past few months. Shortage of hotel rooms in Delhi, Mumbai, and other metros are believed to be the underlying reason putting of the visitors. Construction of good accommodation facilities is moving at snail pace. The lack of hotel accommodations is likely to hit the India’s tourism potential in near future, say experts. Read More »

Banks Prune Home Loan Rates

Interested home loan buyers do not need to be afraid of interest rates anymore and can pick their dream house soon. Since the banks are seeing large investments, the rates are finally falling after nearly three years.

HDFC Ltd. has already cut its floating interest rates by a quarter a percentage point (0.25%) to 11% under its special monsoon offer. The bank has also lowered its processing fee. Following in footsteps is Bank of Baroda. It has recently trimmed its rate by 50 basis points to 11% for loans up to Rs 20 lakh and 11.25% on home loans above Rs 20 lakh. Read More »