Mumbai is the most preferred real estate investment destination, followed by Chennai, according to a recent survey. Patna, Nasik, Tiruchirapalli, and Madurai are also emerging as attractive options.
Mumbai's commercial real estate market sees revival as Lodha Developers and Indiabulls bid for Finlay Mill, and Kohinoor Mill-1 is set for auction.
New Delhi tops as India's most expensive city for expats, globally ranks 65th in cost of living.
DLF aims to raise Rs 300-500 crore by selling its stake in a joint venture with Akruti City for a commercial project in Andheri, part of a larger debt reduction strategy.
Mumbai is emerging as a focal point for DLF and Unitech, as both firms work to revive halted projects along with affordable housing initiatives.
Mumbai flat prices predicted to drop further, brokers advise waiting. Developers disagree, stating prices have stabilized after a 5-20% decrease.
Malls in India see 16% vacancy rate as brands shift to high street stores due to viability, visibility, and branding issues.
The global economic slowdown has led to increased vacancy in prime commercial districts, including Mumbai's Nariman Point. The trend is similar in other major cities like New York and Chicago.
QVT Financial LP opposes Hirco Plc's merger proposal with Hiranandani group subsidiaries, stating it benefits Hiranandani at the expense of Hirco shareholders.
ITAT ruling prevents taxation on builder payments for redevelopment in Mumbai, benefiting 35,000+ buildings and offering clarity on taxation in such cases.
Hirco shareholders clash over restructuring proposal involving the merger of two Hiranandani-owned real estate subsidiaries. The move faces opposition, with some investors concerned about the Hiranandani group gaining majority control.
PwC India Acquires ECS for ₹38-42 Crore, Expands Business Operations
The government is considering raising home loan limits and tax rebates to make housing more affordable amid economic slowdown.
Activists demand the implementation of a 1983 government rule allowing affordable group housing by providing land at low rates. Over 3,900 applications are pending.
Premium hotel room rates drop 25% due to occupancy decline. Hotels target steady segments like cabin crews and long-stay programs to combat the slowdown.
Public sector banks cut home loan interest rates, benefiting buyers in Mumbai's outskirts and other cities. The move aims to support the housing market, but some experts believe a greater impact would require higher loan limits and increased consumer confidence.
The RBI may cut interest rates sooner and more aggressively than planned due to the Mumbai terror attacks and the economic slowdown. The attacks targeted key business hubs, impacting investor confidence. Analysts expect further rate cuts to counter the slowdown and bolster the economy.
The recent terrorist attacks in Mumbai are expected to further depress property prices, especially in South Mumbai, affecting both sales and rentals.
Travel India Marketing launches 60-room serviced apartment in Malad, targeted at corporate long stays and businesses in Mindspace. Rooms will be offered at promotional rates.
Mumbai developers consider halting new residential projects due to market slowdown, impacting sales and leading to job cuts in the construction industry.
Hindustan Construction Co. halts township projects in Pune, Nasik, and Thane due to market turmoil, focusing on government and PPP projects instead.
Home buyers in Mumbai await a significant drop in realty prices, despite developers' offers and discounts at a major property exhibition.
Centrum Broking predicts a 30-35% decline in India's residential property prices, with Mumbai expected to fare better, possibly experiencing a reduction of 20-30% by April 2009.
Potential home buyers may find deals in April-May as developers face pressure to sell unsold stock at lower prices due to financial crunch.
Indian property developers are offering massive discounts as the global finance crisis impacts the market. The incentives include free parking, fee exemptions, and paid stamps and registration costs.