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Builders have no right to sell stilt parking: Supreme Court
The Supreme Court has ruled that builders/promoters cannot sell parking areas as independent units or flats as the same is to be extended as “common areas and facilities” for the owners. A bench of Justices R M Lodha and A K Patnaik in a judgment rejected the argument of a real estate development company that [...]
Continue reading...Consumer Affairs Ministry Gives Green Signal to 49% FDI in Multi-Brand Retail
30. August 2010
The Consumer Affairs Ministry has given the green signal to allow 49 per cent FDI in multi-brand retail. It has written a letter to this effect to the Commerce Ministry. India currently allows 100 per cent FDI in cash-and-carry operation and 51 per cent in single-brand retailing. Foreign investors are barred from investing in multi-brand [...]
Continue reading...Office rents in Asia on the rise
28. August 2010
Major Indian office markets continue to see growth in leasing activity but rentals are largely unchanged or show only incremental growth, a survey finds Asia’s leading commercial centres recorded impressive growth in demand of office space in the second quarter of 2010 as the steady regional economic recovery encouraged multinational companies to reactivate expansion plans suspended [...]
Continue reading...Global Commercial Real Estate to Touch $300-bn Mark
27. August 2010
Reflecting improved investor confidence, investment in commercial real estate globally is expected to witness a “healthy” growth of 40-50 per cent to $300 billion in the current year, says a report. According to the report by global real estate services firm Jones Lang LaSalle, the first half of 2010 saw investment worth $130 billion in [...]
Continue reading...IFC in Discussion with Real Estate Developers to Create Large Affordable Housing Projects
23. August 2010
The International Finance Corporation is in talks with several real estate developers to create large affordable housing projects in India. “IFC has been talking with everybody; there have been discussions with the Tatas and with other corporate groups on this,” said Mr Paolo Martelli, Director, South Asia, IFC. “Everybody” includes both real estate developers and [...]
Continue reading...Realty check! FDI grows 80 times in 5 years
22. August 2010
It’s not Indians alone who are monitoring the real estate market here. Foreign direct investment (FDI) in India’s booming real estate and housing market jumped 80 times between 2005 and 2010. Figures obtained by TOI show that in 2005, FDI in real estate was a mere Rs 171 crore. That soared to Rs 13,586 crore in [...]
Continue reading...Real estate in Asia-Pacific region on path of recovery
20. August 2010
he Asia-Pacific region continues to move in a forward motion as far as real estate is concerned and the trend is going to continue, according to the recent survey conducted by some topranking companies. The Global Market Perspective report released by Jones Lang LaSalle says that the region was quickest to recover and the outlook seems [...]
Continue reading...No SBG directors on Maytas Infra board: CLB
18. August 2010
The Company Law Board (CLB) has rejected induction of four directors of Gulf-based real estate company Saudi BinLadin Group (SBG) on the board of IL&FS-promoted Maytas Infra. In a statement issued on Monday, IL&FS-promoted Maytas Infra (MIL) said: “With the consent of the government of India, the company had applied to the CLB requesting for its [...]
Continue reading...Alhind Builders Plan 40 Storey Aprtment in Kerala with Two Helipads
10. August 2010
Alhind Builders is set to construct what is claimed to be the tallest apartment building in Kerala, complete with two helipads. The 40-storey building forms part of an apartment complex coming up at Karaparamabu junction in Kozhikode, with two other buildings having 30 and 10 storeys each. The managing partner of Alhind Builders, Wazeerudhin said that [...]
Continue reading...Government approves 12 FDI Proposals worth 23.06 Billion Rupees
10. August 2010
The government has approved 12 foreign direct investment proposals worth 23.06 billion rupees ($ 500 million), said a finance ministry statement. The Foreign Investment Promotion Board (FIPB), the nodal agency, said that it has deferred 15 foreign investment proposals including one from DLF Limitless Developers for transfer of shares to residents prior to expiry of 3 [...]
Continue reading...Only 35 percent of all Karnataka Real Estate Projects Under Implementation- Assocham
9. August 2010
Only 35 percent of the Rs.7.33 trillion (Rs.7.33 lakh crore) investment projects in the public and private sectors have been commissioned in Karnataka or are at various stages of implementation, the Associated Chambers of Commerce and Industry of India (Assocham) said Sunday. ‘Though pro-active Karnataka attracted a whopping Rs.7.33 trillion investments till March this year, [...]
Continue reading...Builders petition CCI, accuse cement firms of cartelising
8. August 2010
Builders have moved the Competition Commission alleging that cement firms, including A B Birla group firm Grasim, ACC, Gujarat Ambuja and others, have formed a price cartel and it is costing them dearly. Through their apex association, builders have formed a united front against major cement manufacturers, accusing them of forming a cartel and hiking rates [...]
Continue reading...Buying a house? See builder’s rating now
6. August 2010
Credit ratings agency Crisil on Wednesday launched project-specific real estate ratings to help home buyers make informed decisions. The `Crisil Real Estate Star Ratings’ will rate new housing projects on a scale of one to seven stars after comparing them with alternatives available in a city. “Crisil Real Estate Star Ratings will address two critical needs in [...]
Continue reading...Relaince (ADAG) Set to Finalise Deal with Universal to Build $1.5 Billion Theme Park
6. August 2010
The Reliance-Anil Dhirubhai Ambani Group (R-ADAG) is close to a deal with Universal Studios of the US to build a $1.5-billion, 400-acre theme park and resort. The company is scouting for locations at Mumbai and Delhi. According to a report published in Business Standard, Reliance Big Entertainment and Universal, a unit of General Electric’s NBC Universal, [...]
Continue reading...A tale of two cities Delhi vs Mumbai
31. July 2010
Compared to Delhi, Mumbai will continue to have more supply of super-luxury homes There is a visible difference in the scale and volume of development in the luxury category in Delhi and Mumbai. While the high-end market of Mumbai is concentrated towards south and central region and has seen a growth of 4-and 5-BHK formats in [...]
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- OCUS Group Announces the Launch of its Second Commercial Project in Gurgaon
- Builders have no right to sell stilt parking: Supreme Court
- FAR raised, Noida set to grow taller, greener
- Now you can make 3-storey house in Noida
- HDFC raises home loan rates by 50 bps
- MP builder cites staff crunch for project delay
- GURGAON TO CP BY METRO RAIL FROM SEPTEMBER 3
- Consumer Affairs Ministry Gives Green Signal to 49% FDI in Multi-Brand Retail
- Maharashtra Govt Prohibits Use of Petrol Pump Land for Real Estate Purpose in Mumbai
- 6 Chennai Projects Get Top Ratings from CRISIL
2. September 2010
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