‘Possession on time’ is the latest mantra

Published: March 23, 2009

When it comes to selling residential projects in a downturn, the promise of ‘timely completion of project’ has become as good a bait, as any other — affordability, complementary club membership or swimming pools.
With the slowdown in sales and cash crunch delaying real estate projects, some builders have started pitching ‘on time completion’ as their [...]

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Realty prices to drop 35-50% in 2009: Orbit Corp

Published: March 20, 2009

Real estate rates have fallen drastically in the past year. Prices in central Mumbai’s Worli and Lower Parel are down to Rs 12,000-18,000 per square foot as compared to Rs 35,000 per square foot a year ago. In Bandra, rates have fallen 20% to about Rs 15,000-25,000 per square foot.
Pujit Aggarwal, Managaing Director, Orbit Corporation, [...]

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Housing gains through tax incentives

Published: March 17, 2009

Investment begins at home. Though the real estate sector has seen a deep correction, a house is probably one of the best investment avenues one can seek today. Despite the global economic slump, which has hit the property prices too, real estate still remains a prized possession.
If falling interest rates and cooling off property prices [...]

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Buying land a good option in downturn

Published: March 17, 2009

So said the famous playwright Mark Twain, and it holds true till date. Land values are known to appreciate more than 40-50 times, though, over a long period.
However, investors get bogged down by the procedure and legal formalities involved in the buying a plot of land. ET Intelligence Group takes you through some of the [...]

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Price cut will be key to survival

Published: March 16, 2009

Despite the cut in interest rates, we do not see much pick-up in real estate demand. Everybody said that interest rates were high and hence there was no demand. But the demand did not pick up despite a cut in home loan rates. Prices should be brought down to a level where people come back [...]

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Real estate market similar to stock market

Published: March 16, 2009

Will real estate prices fall further? Do builders have the financial muscle to complete ongoing projects? Should I hold my stocks in real estate companies or sell? These are the questions on everybody’s minds. And answers are unfortunately hard to come by. As a buyer, one would want to save the last penny. But [...]

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Ambuja Realty to Start 3 New Projects in Bengal

Published: March 13, 2009

Notwithstanding the slowdown, city-based developer Ambuja Realty plans to unveil three new real estate projects in West Bengal this year, a top company official says. The projects comprise a 150-room hotel, a mall and an IT park at Rajarhat on the northeastern fringes of the city. “We will invest Rs.250 crore (Rs.2.5 billion) for building [...]

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ASK Investment Launches 500 cr Real Estate Fund

Published: March 12, 2009

At a time when property prices have been moving southwards and experts are predicting a tough period ahead, private equity firm ASK Investment Holdings has launched its Rs 500-crore real estate fund. ASK’s management thinks that the real estate advisory business will complement its existing wealth management business, apart from growth opportunities existing in the [...]

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DLF Plans Commercial and Residential Projects in Chennai and Hyderabad

Published: March 9, 2009

DLF plans to invest around INR 3,500 crore in various residential and commercial projects in and around Chennai and in Hyderabad. The projects will be developed through a SPV, which will have equity capital from DLF, JV partners. The balance fund requirement would be met through internal accruals. DLF Commercial Developers have proposed to set [...]

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Brokers’ fees go up as real estate sales drop

Published: March 6, 2009

New Delhi: Property brokers are taking advantage of the slowdown in the residential real estate market by increasing the commission they charge from developers. As house and apartment sales sag, brokers, who typically charged 2-5% of the value of the property as commission, are demanding as much as 8-9%.
“The slump in sales is so dramatic [...]

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Indian real estate market - Is the worst over?

Published: March 5, 2009

“The worst is over” for the Indian real estate market, a leading developer has claimed, pointing to lower interest rates.
Sanjay Rastogi, director of Saviour Builders, said real estate schemes were now becoming more attractive investments after government measures.
Saviour is behind the planned GreenIsle housing project, Ghaziabad, which the developer has dubbed as an eco-friendly scheme.
Mr. [...]

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DLF to Cut Apartments rates in Chennai and Bangalore

Published: March 5, 2009

A decision by DLF Ltd, the country’s biggest realty firm by market value, to reduce prices of its apartments in Chennai and Bangalore by between 10% and 30% could trigger a wider correction in what is still an overheated market, according to analysts and consultants. The DLF move will force other realtors to cut apartment [...]

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The current slump in demand is temporary

Published: March 3, 2009

R K Mittal, CMD, CHD Developers believes that the overall scenario in the real estate sector is moving towards favourable times and demands will soon start to pick up. CHD Developers, a public limited company listed on the Bombay Stock Exchange (BSE) since 1995, is developing several projects across the country.
Excerpts from a conversation with [...]

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DLF raises Fund from Bond sale

Published: March 3, 2009

DLF, the nation’s biggest real estate developer, has raised Rs 720 crore from selling bonds to insurance companies as part of its plan to raise Rs 5,000 crore from such sales.
DLF on February 24 raised the funds through issue of non-convertible debentures maturing in five years which offered as much as 14 per cent interest, [...]

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