Commercial real estate rentals seem to be bottoming out

Published: August 26, 2009

Mumbai commercial rental continues to be the second costliest in Asia Pacific. With rent of about USD 800 per sq metre per annum, Mumbai is ahead of the likes of Tokyo (USD 750 per sq metre p.a.) and Singapore (USD 625 per sq metre p.a.) as per the latest report of real estate consultancy [...]

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Slowdown-hit real estate bets big on Budget

Published: July 1, 2009

Having been hit the hardest by the economic downturn, embattled realty majors are betting big on the forthcoming Budget, to be presented on July 6, in a bid to revive the sector’s fortunes. Experts say the sector needs government support as well as further stimulus to get out of the current slump.
While the government with [...]

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Union Development Minister Favours Cheap Home Loan Rates

Published: June 18, 2009

In order to revive the demand in the real estate sector, Urban Development Minister Jaipal Reddy today favoured cheaper loans for buying houses. “Real estate is facing a slowdown. So, we should make an arrangement for giving loans at 6.5 per cent for houses in the below Rs 5-lakh category to the poor,” he said [...]

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Stimulus Expected for Real Estate Sector in Budget 09- Experts

Published: June 18, 2009

Although, Indian economy as a whole has largely been insulated against the global economic slowdown, the Indian real estate sector has been severely been affected keeping in sync with the fortunes of the global real estate sector. Demand dynamics of one large industry decide the fortune of its ancillary industries. The ups and downs of [...]

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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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10 top most expensive office spots

Published: June 8, 2009

NEW DELHI: Mumbai, which became the second-most expensive office property market globally one-and-a-half years ago at the peak of a real estate boom in the country, has now slipped out of the top-five list, as per a survey of 170 cities by real estate consultant CB Richard Ellis. The city remained at the sixth position [...]

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DLF Consolidates its Realty Division into 2 Groups

Published: May 22, 2009

DLF, India’s largest realty company, has consolidated all its real estate verticals under two divisions as part of a restructuring exercise aimed at leveraging synergies and imparting greater customer focus. The company till now had six verticals in the real estate division: retail, offices, commercial, homes, SEZs and hotels. Now, the retail, offices, IT parks [...]

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Unitech sells Saket office for Rs 450 cr

Published: May 21, 2009

NEW DELHI: India’s second-largest real estate firm Unitech has sold its office building in Saket, New Delhi, for around Rs 425-450 crore to an
unnamed property investor, following over six months of negotiations with several prospective buyers.
Unitech MD Sanjay Chandra said the deal amount is over Rs 500 crore, but didn’t disclose the buyer’s name. People [...]

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Realty may see sales building up in Q4, but profits could fall

Published: April 24, 2009

India’s real estate companies are expected to see a marginal rise in sequential sales in the fourth quarter ended March 31, 2009, on the back of good demand for their new projects, coming at up to 20% discount to existing market prices. However, their profits may take a hit. On a year-on-year basis, the top [...]

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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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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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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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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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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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Goa realty prices come down by 25%

Published: February 19, 2009

PANAJI: The meltdown has started to trickle into Goa’s real estate market. According to developers, prime property rates are down by 5-10%, while the prices of flats constructed by small-time builders are down by 20-25% since the New Year. Prices, they predict, are likely to fall further by mid-2009.
“Small builders have reduced their rates by [...]

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It’s not the best of times for real estate funds

Published: February 19, 2009

MUMBAI: It’s not the best of times for real estate funds. Given the slowdown in the sector, realty funds are going slow on raising money from their investors - a process that is referred to as the draw down option. Lack of  investment opportunity is cited as the prime reason.
Typically, a real estate fund works [...]

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Will US financial crisis impact Indian real estate?

Published: September 27, 2008

The recent crisis in the banking system of US is bound to impact markets and economies all over the world. But the extent and nuances would be different for every sector and every country.
How would this impact the Indian real estate market? The stock prices of Indian realty giants like DLF and Unitech have already [...]

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