| | | Top News Date January 7, 2010 |
Plama Developers to raise Rs 200 crore
Mangalore-based Plama Developers, which specialises in residential projects, has lined up close to 12 projects to come up over the next two years. For this, the company plans to raise Rs 200 crore in the next few months through a mix of debt and equity. They are looking to raise Rs 100 crore through banks and Rs 100 crore through our foreign investor in the next few months. They have already received Rs 25 crore from the UK-based investor. The investor holds a 26 per cent stake in the company while the promoter holds the rest.
Source: Business Standard |
Realty body asks for easing of ECB norms
The real estate sector, which is expecting a revival due to the current upturn in the economy, has made a pitch for easing of external commercial borrowing (ECB) norms in order to avail of cheaper funds. Besides, it has sought tax holiday for industrial parks, tax concessions for affordable housing projects and infrastructure status to various townships. A large number of builders and developers representing the Confederation of Real Estate Developers' Association (Credai) will put up its demands at a meeting with the finance ministry, slated for January 7. Credai wants special incentives for the implementation of slum rehabilitation projects and redevelopment of dilapidated buildings.
Source: Business Standard |
CREDAI Hopeful that 2010 will be a Positive Year for Real Estate Activities
The Confederation of Real Estate Developers' Associations of India (CREDAI) is hopeful of a positive year for the India real estate industry in the New Year 2010. The market is expected to return to the 2007-08 level. Given the right opportunity and supportive policies, the real estate sector too will prove effective in driving the country's GDP growth. Infrastructure development is an area which will play a vital role as increased connectivity in terms of roads, rail, communication, etc., will lead to development in real estate. Development of other asset classes like warehousing, logistics, tourism, hospitality, etc., will also boost real estate activity.
Source: Indian Realty News |
Indian Real Estate Could See Fresh Investment of $1.5 Billion in Residential Deals in 2010
The Rs 70,000-crore Indian real estate sector is expected to see fresh investments to the tune of $1.5 billion in residential deals by exclusive real estate funds in the financial year 2010-11, three times more than the total quantum that such funds invested in FY 2008-09. These funds include Sun Apollo, HDFC India Real Estate Fund, RedFort Capital, ICICI Prudential Infrastructure Fund and Xander Real Estate Partners. The investments will be both in the metros as well as Tier II cities in India and signal a rebound in realty fund activity in the country after a lull in the last 12 months.
Source: Indian Realty News |
Owning an Apartment in Burj Khalifa Cheaper than Owning a Property in Central Delhi
An apartment on the 100th floor of 'Burj Khalifa', the world's tallest building and one of the most-sought after addresses in the world today, comes at a price of Rs 38,000 per sq ft. But if you think that's a soaring price, consider this: desi realty rates beat that by a mile. The rates of apartments on Prithviraj Road and Aurangzeb Road in central Delhi are much higher. The per sq ft rate of apartments in Marble Arch and Tata Apartments on Prithviraj Road is around Rs 65,000 per sq ft. Similarly, Ansal apartments on Aurangzeb Road have a price of Rs 55,000 per sq ft, said senior broker Hemendra Sharma.
Source: Indian Realty News | | International News |
Reports reveal the devastating effect of the Wall Street decline on apartment prices in Manhattan
Apartment prices in Manhattan, New York, have fallen for a third consecutive quarter as Wall Street job losses continue to drain, according to the latest reports from the real estate industry. The average price decreased by 10% to $810,000 in the fourth quarter of 2009 from a year earlier, down from almost $1.03 million in 2008, according to figures from New York appraiser Miller Samuel and broker Prudential Douglas Elliman Real Estate. But the number of sales increased 8.4% to 2,473 as lower prices pushed transactions above the 10 year quarterly average.
Source: Property Wire |
Property prices to outperform inflation by 40% in next decade, analysts say
Inflation beating property price growth will continue to be a feature of the coming decade, though at a lower rate than seen over the past ten years, according to analysts. Property consultancy Savills Research is forecasting that demand will be sustained by stock shortages but price growth will be constrained by more limited access to mortgage finance. It predicts 40% inflation adjusted growth in the mainstream property market over the next ten years, much more in line with the long term average. This follows inflation-adjusted growth of 71% in the noughties, a fall of 14% in the 1990s, and 43% and 49% growth in the 1980s and 1970s respectively.
Source: Property Wire |
Signs of recovery emerging in Spanish property market, reports show
Property prices are starting to rise in some parts of Spain, according to a new report from one of the country's largest savings banks. The much awaited real estate recovery is underway in locations where there is no glut of property such as Cantabria, the Basque region, Asturias and La Rioja, says the report from Caixa Catalunya. 'House and land prices have touched bottom in some cases. The adjustment is almost over, if not already,' said Eduard Mendiluce, head of Caixa Catalunya's property division Procam. But there is no good news for those wanting to sell in popular areas such as the southern coast where there are many new and holiday homes that are not selling.
Source: Property Wire | | About Artha Property |
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