Sahara Prime City, the real estate arm of Subroto Roy-led Sahara Group, on Thursday announced a joint venture with US-based construction major Turner Construction and special situation investment firm Acropolis Capital. The venture will invest $100 million or around Rs. 500 crore within the next five years. HT reports.
High real estate costs, lack of any tax incentive and bureaucratic hurdles are huge problems for the growth of the hospitality industry that is one of the country's top job earners, a survey revealed today.
Real estate players, already battling a slowdown in sales, are likely to see their woes intensifying, with interest payments against loans eating up into their cash flows in March. Sachin Dave reports.
Around 45% of real estate projects in the National Capital Region, Mumbai Metropolitan Region and the Bangalore Metropolitan Region have been delayed, according to a survey by real estate reserach firm PropEquity. HT reports.
The vicious downward spiral in demand for real estate, and unrealistically high prices, have forced the hands of many investors: they are having to take possession of their properties, and getting them registered. Sachin Dave reports.
Private equity players in realty are increasingly focussing on the high-end and luxury projects, even though they burned their fingers with this strategy around 2008.
The Competition Commission of India (CCI) has again rapped realty major DLF on charges of abusing its dominant market position to the disadvantage of apartment buyers in its ultra-luxury residential project Magnolia in Gurgaon.
After burning their fingers with the real estate investments made in 2006-07, private equity players are now demanding deal structure where they have a first and assured share in the returns, people familiar with the development said. Sachin Dave
reports. Beating the falling yields in real estate
The change of guard at Lucknow may not have any impact on liquor baron Ponty Chadha's businesses. In an indication that "all is well" Wave Infratech, the real estate arm of Chadha's Wave Group, on Tuesday said it would invest around Rs. 4,000 crore for the development of a 152-acre township at Noida. Vivek Sinha reports.
As the Budget paved the way for external commercial borrowing (ECB) in the low cost affordable housing — at a time when most realty players are facing liquidity crunch, more real estate developers are expected to launch affordable housing projects. Sachin Dave reports.
In a bid to maintain prices of properties, real estate developers facing a cash crunch especially in the National Capital Region (NCR) and Mumbai Metropolitan Region (MMR) are approaching brokers to underwrite their properties and save the day, said industry watchers.
The Competition Commission of India (CCI), whose job is to ensure fair competition between corporate entities, plans to take steps to create rules to stop real estate developers from abusing their dominant positions at the cost of customers. Mahua Venkatesh
reports. Here comes the watchdog
When heeding promises real estate developers make, ensure they would actually be able to deliver them.
Lodha Developers said in a statement on Monday that Rs. 1,200 crores have been paid towards equity and debentures while the remaining Rs. 1,500 crores go towards liabilities of a special purpose vehicle (SPV) of DLF that owned the land.
Foreign investor purchases in freehold projects in Dubai are still dominated by Indians who retained the number one spot since foreign ownership regulations were applied, a new research has revealed.