Land prices decline across major Indian cities, with drops between 10-50% due to market slowdown and reduced deal volumes.
State-owned pharmaceutical companies are shifting focus to real estate development, leveraging their land holdings to build commercial complexes and IT parks. This move aims to generate revenue and meet social objectives without government assistance.
Indian real estate attracts British investors as UK market declines
Rental prices in key Indian industrial towns surge, with New Delhi experiencing a 13% increase in 2008, reflecting high demand and limited development space.
Indiabulls Group is negotiating with global retailers for a pan-India presence while expanding its real estate portfolio with new malls expected to open by 2009.
DAMAC Properties expands its reach in India by appointing local agents in Gujarat to market international properties to Indian buyers and explore investment options in major Indian cities.
Real estate markets experiencing significant price drops across major Indian cities, with residential values declining in metros.
Real estate developers are offering incentives like "No EMI till possession" and "EMI holidays" to boost sales amid a sluggish market. These offers aim to attract end-users by easing the financial burden until project completion.
Sistema, a Russian conglomerate, plans to invest up to $200 million in Indian commercial real estate and hospitality projects by year-end, focusing on office spaces and hotels in major metros.
DLF plans to invest ₹1,250 crore to expand its multiplex business, adding 500 screens nationwide. DT Cinemas will open a 12-screen megaplex in Gurgaon's Mall of India and multiplexes in various other cities.
Rentals in the National Capital Region are anticipated to stabilize due to increased supply in Gurgaon and Noida, with no major changes expected in Delhi.
The Munjal family, renowned for Hero Honda, is diversifying into real estate with plans for townships, industrial parks, hotels, and resorts across India. Initial investments will be family-funded, with external interest from investors and private equity.
Sistema plans to invest $100-200 million in hotels, offices, and residential complexes in India, marking its first real estate endeavor outside Russia and Ukraine.
Citibank's Property Investment unit invests $160 million in BPTP's SPV, acquiring a 40% stake to develop four SEZs in NCR, signaling strong investor confidence.
Unitech, Indiabulls, and DLF postpone REIT listings on SGX due to market conditions, opting for private placements and domestic funding.
Concorde Group is building "Concorde Manhattans," a new housing development in Bangalore’s Electronic City, hoping to attract Wipro employees with its American naming scheme and prime location.