Foreign investors shift focus to India's commercial sector due to declining home prices, with firms like Blackstone, Xander, and Morgan Stanley leading the charge.
GMR Group intends to sell its Chennai technology park for Rs.150 Cr, with Global Tech Park and a prominent CA vying for the acquisition.
Blackstone Group LP is preparing to launch a new real estate fund targeting the Asian market, aiming to expand its commercial real estate presence in the region.
Real estate stocks have plummeted, with the BSE Realty Index down 68.5% in 2008. DLF announced a buyback, while analysts predict further decline due to slowdowns, rising input costs, and high interest rates.
Indian real estate market to grow 35-40% in next two years, attracting $12 billion in PE investments from players like Blackstone and Deutsche Bank.