Income tax raids on Indiabulls offices cause share drop. The company, involved in finance, lending, and real estate, saw shares fall after raids in Delhi and Mumbai.
Developers in Mumbai are slashing prices for new launches by up to 15% to stimulate home sales amid sluggish market conditions, aiming to attract buyers.
Repo rate hike to strain real estate balance sheets, increase borrowing costs by 1%
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.