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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News

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 [...]

Posted under News