Dubai realty debacle: Indian firms say they are unaffected

Published: November 28, 2009

Bangalore / New Delhi: Four years ago, when developer Niranjan Hiranandani and his son Darshan announced the 23 Marina skyscraper project in Dubai, the emirate was the place to be in.
The city had turned into a construction site, its skyline was dotted with yellow cranes, and Indian developers and investors were lining up for a [...]

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Real estate revival story being scripted by investors: Analysts

Published: September 8, 2009

The real estate revival story is being driven by the residential segment, but contrary to the claims made by a number of developers that end-users are their main buyers, the current trend is being driven by investors. “These are investors who are taking an opportunistic view of the situation where prices have corrected considerably in [...]

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Real Estate Prices to Remain Stable This Festive Season

Published: September 7, 2009

Property prices are unlikely to rise sharply during the festive season as buyers have become very price sensitive and are not ready to pay premium on flats. Talking to Hindustan Times, Anuj Puri, chairman and country head, Jones Lang LaSalle Meghraj (JLLM) said, “Developers have realised that they can no longer increase the prices at [...]

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Realtors may not gain from tax benefit extension

Published: August 6, 2009

The government’s decision to extend the time limit for claiming tax exemption on profit earned from projects may not give the desired benefits to real estate developers. Instead of giving benefits to ongoing projects, the government chose to extend a tax waiver to ‘affordable’ housing projects that were approved till March 31, 2008.
“A change in [...]

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Govt plugs loophole to stop illegal profits by developers

Published: July 10, 2009

The government is bringing an amendment that would prevent you and your closest kin from buying more than one flat in the same building in affordable home projects. This is applicable for buildings approved for construction of smaller flats of less than 1000 square feet of built-up area targeted at low and middle income households [...]

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No Additional Tax and Duties is a Good Move- Real Estate Sector

Published: July 8, 2009

The real estate sector leaders believe that no additional burden of taxes and duties in the Union Budget is good news for them as input costs will remain the same. “No negative news for the sector which is seeing signs of revival now is by itself good news. We are happy with the structural directions [...]

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Is it the right time to expand biz in property market?

Published: June 22, 2009

The good news is that the commercial segment in real estate is upbeat and demand is picking up. While initially, the first quarter of the calendar year saw a major decline in rental values in commercial spaces, the process of stabilisation has now begun over the last few weeks.
Companies, which were earlier hesitant to set [...]

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Big Malls Make a Comeback

Published: June 12, 2009

The global financial meltdown and its concomitant effect on India’s real estate industry had forced developers to defer supply of mall space in 2008. However, in what could be seen as early signs of revival of retail real estate, as many as 100 malls, spread over 30 million sq ft, are expected to come up [...]

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Developers Resort to Discounts to Sell Commercial Properties

Published: June 10, 2009

Realty companies are resorting to discounts to sell commercial properties in order to improve cash flows and reduce mounting debts. DLF, the country’s biggest real estate firm by market capitalisation, has recently sold its 66% stake in a special purpose vehicle that owns eight acres at Prabhadevi in Mumbai for Rs 310 crore, which analysts [...]

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Home demand inching up, but recovery not in sight

Published: June 10, 2009

MUMBAI — Homes sales in India are trickling back in some sections of the market, but industry watchers say a rebound is months away as buyers in the world’s second-most populous country await further price corrections.
Builders have begun new projects after a year-long hiatus, and are also swapping older premium project proposals for cheaper ones [...]

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Developers focus on Service Apartment to Fight Tough Times

Published: June 8, 2009

After being launched in cities like New Delhi, Bangalore and Pune, service apartments will soon be a reality in Tier II and III cities. Considering the growing number of corporate honchos visiting the tri-city, Ludhiana and Amritsar, real estate developers will soon introduce service apartments in these cities. Another reason that has evoked developers’ interest [...]

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Over 100 malls to spring up in India by end-2010

Published: June 1, 2009

Mumbai: Keen on matching supply with demand, real estate developers may spring up more than a hundred malls spread over 30 million sq ft in the country by end-2010, a report says.
“Between now and 2010, an additional 31,846,504-square feet of mall space will be created across India through just over 100 new shopping centres,” findings [...]

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Commercial rentals in Delhi, Mumbai plunge

Published: May 21, 2009

Commercial real estate rentals in Mumbai and New Delhi have seen a steep decline of 24 per cent in the January March quarter over the previous quarter of the financial year 2008-09, according to a research report by Jones Lang LaSalle Meghraj (JLLM), a property consultancy firm.
“The biggest decline in commercial rentals have been in [...]

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Realty industry hopes for better days under new government

Published: May 18, 2009

NEW DELHI: India’s realtors, one of the worst-hit by the slowdown, believes the sector will get more attention under the new government given its professed thrust on infrastructure. Anuj Puri, chairman and country head of realty consultancy Jones Lang LaSalle Meghraj, says the industry can expect the broad reform agenda would continue under the next [...]

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Real Estate India can see a Turnaround

Published: May 18, 2009

The election of a stable government at the Centre could bring a bottom to the real estate market and may help in turning it around, as improved economic sentiment and rallying stock markets bring back confidence into the battered sector, industry experts say. The real estate sector has seen a steep fall in prices in [...]

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Retail and Real Estate Projects on hold in Kolkata

Published: April 21, 2009

Around 100 small and large retail and real estate projects in Kolkata are being delayed or deferred due to the financial credit crunch. According to analysts and industry insiders, increased retail development in Kolkata and in its suburbs had nearly doubled real estate prices over the last few years. However, although 40 to 50 projects [...]

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Real estate market in for a sea change

Published: February 17, 2009

CHENNAI: With the economic slowdown, the real estate market will undergo a sea change and both residential and commercial markets will get corrected. This will lead to stabilized market for real estate across the country.
As far as residential space is concerned, the market for affordable housing has been on the increase. In the last few [...]

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