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Property tax to double in island city

Times of India 12.05.2009
Property tax to double in island city

Property tax in the island city (from Colaba to Sion and Mahim) will double from the next financial year. But many residents, who live in old buildings, have little to worry about as they currently pay a measly 50 paise per sq ft.

UK interior design firm forays into Indian real estate

UK-based interior designing firm Casa Forma has forayed into India's property market and is looking at a revenue of Rs 40 crore in the next two years, besides planning to start a brokerage business soon.

Realty plunges in weak markets

NDTV Profit 11.05.2009

Builders now rely on banks for completion of projects

Supriya Verma Mishra & Pallavi Mula Times of India 11.05.2009
Realty plunges in weak markets

The key benchmark indices extended losses in afternoon trade led by fall in realty, auto and capital goods stocks. Political uncertainty also weighed on the market. The BSE 30-share Sensex was down 188 points to 11,688. The Nifty also slipped 1.8 per cent to 3,554.

Builders now rely on banks for completion of projects

Real estate developers are making a beeline for bank funds, with traditional sources of funding like private equity and the stock market drying up in the current slowdown. Realty, which has also taken a huge hit in the slump, accounted for the largest chunk of non-food bank credit disbursed in the previous fiscal (FY09). Developers have used most of these funds to meet working capital requirements.

Enabling A Paradigm Shift In Indian Real Estate

Jones Lang LaSalle Meghraj 11.05.2009
Enabling A Paradigm Shift In Indian Real Estate

International real estate consultancy Jones Lang LaSalle Meghraj has released the country’s most definitive study on an important segment of today’s real estate marketplace – Property and Asset Management.

UK’s interior designer forays into real estate

UK-based interior designing firm Casa Forma has forayed into India’s property market and is looking at a revenue of Rs 40 crore in the next two years, besides planning to start brokerage business soon.

India's Tata group to offer low-cost housing

India's Tata group plans to introduce cheap, low-cost housing for low-wage earners in Mumbai, where property prices are among the world's steepest.

Kerala Based Builders Launch Real Estate Venture Capital Fund

The fund targets an initial corpus of Rs 50 crore, the closing date being July, 31.

Plenty room for housing finance companies

Amidst struggling realty market investment in housing finance companies is expected to fetch decent returns in a volatile market. Huge untapped, under-penetrated housing market caters to significant growth opportunities to providers of housing finance companies.

At a time when India's real estate sector is reeling under depressed market conditions, industry body Assocham has suggested that the government and realty players should join hands to meet the demand for 47.43 million low-cost houses by 2012 in rural areas.

Tata Housing unveils low-cost housing project

Ahmedabad Business Standard 06.05.2009
Tata Housing unveils low-cost housing project

Tata Housing Development Company unveiled its 'Shubh Griha' project on Wednesday, a first of its kind pan-Indian brand to offer low-cost residential properties. Under the project, Tata would be launching its first property in the suburb of Boisar in Mumbai, followed by a pan-Indian presence across tier I and tier II cities. Moreover, the value homes will be priced between Rs 3.9 lakh and Rs 6.7 lakh.

Real estate prices declined further due to slowdown

MUMBAI: The failure of retailers to exploit the fall in real estate prices triggered by the economic slowdown, has led to a further correction in property prices across major metros of India, real estate consultant, Cushman & Wakefield (C&W), has said in a report.

Buyers still wait for prices to dip

S. Shanker The Hindu Businessline 03.05.2009
Real estate prices declined further due to slowdown

MUMBAI: The failure of retailers to exploit the fall in real estate prices triggered by the economic slowdown, has led to a further correction in property prices across major metros of India, real estate consultant, Cushman & Wakefield (C&W), has said in a report.

Buyers still wait for prices to dip

Yet another property expo in Mumbai was organised by the 400-strong Maharashtra Chamber of Housing Industry in the second week of April.

Something to cheer: Nano homes for Rs 3-5 lakh

Anshul Dhamija Times of India 03.05.2009
Tata Housing bags awards at the Asia Pacific Property Awards, 2009

Tata Housing, one of the leading real estate companies in the country, with a vision to provide quality life spaces in India, today received the highest level of achievement in the property and real estate industry in Asia Pacific, as two of its projects were declared one of the best in the category at the CNBC Asia Pacific Property Awards 2009. The awards are the Asia Pacific edition of the International Property Awards, the industry’s most prestigious award programme globally.

Something to cheer: Nano homes for Rs 3-5 lakh

BANGALORE: Creating products and services for the bottom of the pyramid is the sweet spot where social objectives marry economic benefits. After cars and mobile calls, developers and social entrepreneurs are looking at creating ‘Nano’ homes.

Indian developers, retailers address new market realities

Raja Awasthi & Neha Dewan Times of India 03.05.2009
‘There is a widespread feeling that the worst is over’

Evenwhen most of the real estate developers are making lucrative offers to lure customers into buying flats, the buyers are still keeping their options open and are treading carefully. There is an improbability in the market. Transactions, particularly in residential segment, take place when buyers are sure of a steady income stream. When that confidence is shaken, no matter what the salary of a person is, chances are that he will not buy a property.

Indian developers, retailers address new market realities

It’s no surprise that she shakeout in the real estate sector has hit India’s burgeoning retail segment as well. But even as the great shopping experience in India hits a few road blocks, this could actually be a blessing in disguise. Retail formats are fast changing to suit market dynamics, even as profitable developer-retailer partnerships are being forged to meet aggressive sales targets. In fact, it is value retail that is emerging as the key buzzword in retail strategy and operations.

 
'Realty sector to take another 24 months to revive'

The slowdown is going to continue for the Indian realty sector and it may take 24 months to see revival, say industry experts.

 
 

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Disclaimer: The information presented and opinions expressed herein are those of the authors and do not necessarily represent the views of Estates Report and/or its partners.