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Govindraj Ethiraj: The real estate cookie crumbles

Govindraj Ethiraj Business Standard 15.04.2009
SBI wary of lending to new real estate projects

The bank is also looking to cut its prime lending rate (PLR), though this might not apply to retail customers

Govindraj Ethiraj: The real estate cookie crumbles

There's an absence of a body or regulator to haul up realtors who take buyers for a ride

Demand for new houses has fallen

Express Estates 15.04.2009

SBI extends cheap loan offer till Sept

Business Standard 15.04.2009
Demand for new houses has fallen

SAMARJIT SINGH, MD of Agni Property, a leading professional property services companies, describes that demand for new houses has fallen and people’s confidence on developers completing their projects is very low.

SBI extends cheap loan offer till Sept

State Bank of India, the country’s largest lender, has decided to extend the special offer for auto and home loans till September.

Some revival in housing

India Times 10.04.2009

Agni goes pan India with its property broking biz

Ashok Kumar Indian Express 09.04.2009
Some revival in housing

DLF’s residential project in west Delhi has reportedly generated a good response, suggesting that there is sufficient demand if the pricing is right. Elsewhere, too, sharply lower prices of new projects have managed to attract buyers interest. Indeed, in real terms, the prices are probably down to their levels in early 2006 and in the suburbs, where the price correction is more substantial, they have been rolled back even more. This sharp price correction is attracting those who had been priced out of the market in the real estate bubble. However, this interest is unlikely to sustain beyond the euphoria of those waiting on the sidelines over the last three years watching housing prices soar. Even at current prices, housing is out of reach for most Indians — according to a NCAER survey, the average household in India had an annual income of about Rs 65,000 in 2004-05. That interest rates have not fallen as much as expected is not helping either. The key issue, however, is land prices, which have to come down for house prices to fall to levels where there is a steady demand.

Agni goes pan India with its property broking biz

Realty broking firm Agni Property will invest Rs 60 crore for making a pan India presence in the next one year. Agni Property, which claims to be India’s first professionally managed, real estate and property broking company, currently present in the northern region, has planned to open offices in the western and southern states in the next financial year.

End the waiting, real estate developers tell consumers

Priscilla Jebaraj The Hindu 09.04.2009
End the waiting, real estate developers tell consumers

At a time when real estate prices seem to be in free-fall, many potential home-buyers are sitting on the fence in the hope that prices will drop still further. Real estate developers are now warning that if they wait too long, there could be dire consequences for a number of support industries, millions of unskilled labourers and the wider economy itself.

India News Digest: Rush of Bookings for DLF Housing Project in Delhi

Here is a roundup of news from Indian newspapers, news wires and Web sites on Thursday, April 9. The Wall Street Journal has not verified these stories and does not vouch for their accuracy.

Markets jump into green

NDTV 09.04.2009
Markets jump into green

The key benchmark indices reversed losses to trade in green in afternoon trade. Realty stocks extended gains and IT stocks reversed early losses. FMCG stocks gained. Index heavyweight Reliance Industries (RIL) reversed losses. Banking stocks came off early lows. The BSE 30-share Sensex was up 33.27 points or 0.32%, up close to 395 points from the day's low.

Objective Analysis on the Growing Housing Industry in India - Bharatbook

Indian Housing Sector Analysis The real estate industry in India has grown on the back of fast developing housing segment. In fact, it is the most dynamic segment of the real estate industry compared to commercial and other property development segments. With the entry of corporate houses like DLF, Parsvnath and Omaxe, easy finance options from financial institutions and government support, the housing industry in India has rapidly grown over the past few years.

Civic tax: 3 in 3 lakh SMSed payments

Shweta Desai Express India 07.04.2009
Civic tax: 3 in 3 lakh SMSed payments

Despite 80 per cent of Mumbaikars being mobile phones users, the Brihanmumbai Municipal Corporation’s (BMC) much-touted “payment of tax through SMS” seems to have been largely snubbed. Of the three lakh tax payers in the city, the service was availed by only three, making a total payment of Rs 7,700. After the civic administration introduced payments through internet — which also didn’t find much favour with citizens — this is the second such failure for the BMC.

Hyderabad now a hotspot for infra investments

Southern metros led by Bangalore, Hyderabad and Chennai have become the most favoured destinations for attracting infrastructure investments from corporates ahead of Mumbai , Delhi and Kolkata, an Assocham study said

Survey by sulekha.com reveals paradigm shift in real estate preferences

The real estate market in India is one of the most volatile and keenly watched segments of the Indian economy. Five per cent of the country's gross domestic product (GDP) is contributed to the housing sector. In the next five years, this contribution to the GDP is expected to rise to 6 per cent. (Source: IBEF - India Brand Equity Foundation)

MHCI to host property exhibition in Mumbai news

The apex body of the association of real estate developers and builders, Maharashtra Chamber of Housing Industry (MCHI), will host its property exhibition 'Property 2009' at Mumbai's Bandra Kurla Complex from 9 April to 12 April, 2009. MSHI says State Bank of India is the co-organisor of the event

Lending rates may fall by another 50 bps

The Indian Bank chairman and managing director, M S Sundara Rajan, has announced that the lending rates are likely to drop by another 50 basis points in the coming weeks.

On the defensive: A file photo of Parsvnath Developers’ Green Ville residential property in Gurgaon. Ramesh Pathania / Mint

New Delhi: After using a portion of his retirement money to buy an apartment in Gurgaon, on the outskirts of New Delhi, S.K. Bangia pursued the developer for almost a year to get the purchase agreement. He eventually got a letter cancelling the allotment of the flat, Bangia says.

NHB for separate body to handle mortgage loans

National Housing Bank (NHB), which regulates and lends to housing finance institutions, said it was in talks with Indian Banks’ Association (IBA), an association of banks and financial institutions, to set up a joint body that would handle technical issues regarding mortgage loans.

Now you can rent a CEO's luxury apartment in Bangalore

Bangalore: Till now, the dream of living in a luxurious apartment like Acropolis with a swimming pool, shuttle court and gym at your disposal, was restricted to some prominent Chief Executives of big MNCs, but now Indian youth are renting such apartments as the rent has come down almost by half due to the recession.

Dubai's Limitless reviews $12 bln Indian project

Dubai-based developer Limitless said on Thursday it is reviewing a $12 billion residential and commercial project in India because authorities there have not yet bought the required land. Its announcement came a day after the developer cut 7 percent of its workforce and delayed a key contract on its $61 billion Arabian Canal project due to the global economic downturn.


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