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.
Vijay Raheja has launched the Verena luxury villas in Bangalore, with plans for more developments despite market challenges post family business split.
The Maharashtra government aims to sell leased land in South Mumbai, potentially raising significant revenue, despite concerns over the real estate market’s condition.
The Indian real estate market faces a significant slowdown, but agents and developers are hopeful that the upcoming Diwali season will revitalize activity.
Leading real estate developers in Mumbai unanimously agreed to reduce home prices by 10-12% during a recent meeting at the Grand Hyatt Hotel.
Lehman Brothers' bankruptcy may cost Indian real estate $1 billion, impacting investments in firms like DLF and Unitech, and exacerbating the credit crisis for Indian developers.
Mumbai is set to alleviate its housing crisis with a new 35,000-unit rental project in Tiwri village by Dhanashree Developers, aimed at Maharasthrians with low income.
Sarovar Hotels & Resorts aims to add 100,000 rooms by 2012, expanding its portfolio with 33 new hotels across various brands, including budget-friendly Hometels and apartment hotels.
Jai Corporation raises over 5,686 crore rupees for its venture capital funds aimed at investing in Indian real estate and developing integrated projects.
A Supreme Court ruling allowing increased Floor Space Index for old buildings in South Mumbai opens redevelopment opportunities, potentially impacting property prices and infrastructure.
Nirmal Lifestyle partners with American Tennis Association for US Open-branded amenities in Indian projects
Maharashtra's government relaxes property regulations for IT parks, allowing a larger financial services footprint to boost Mumbai's commercial realty market.
Bombay Dyeing announced plans to develop 800,000 sq. ft. of property in Mumbai, including a high-rise for commercial and residential use, with potential sales in two years.
HDIL plans to raise ₹1,000 crore for Mumbai airport modernization, relocating 80,000 slum families. This surpasses the Dharavi project in scale and involves a 53-acre plot acquisition for ₹1,900 crore.
Office rental prices in key cities like NCR, Mumbai, and Bangalore are expected to remain stable despite increased supply, according to a recent CBRE report.
HCC Real Estate Ltd plans major investments in land for townships and launches an 80-acre slum rehabilitation scheme, and constructs an IT park.
Berggruen Holdings plans to invest over Rs 1,000 crore in India by 2012 to establish 3- and 4-star hotels. The company has secured funding from IDFC and is exploring additional funding options.
Mumbai is the top choice for logistics and warehousing investment, attracting $200 million. Smaller cities like Nagpur, Gurgaon, and Visakhapatnam are also emerging as promising logistics hubs.
MMRDA offers two large plots in Wadala, Mumbai for 80-year lease. One plot is for a commercial complex and the other for a multiplex, aiming to attract major developers and financial institutions.
A Mumbai NBFC starts selling shares of a Delhi real estate firm, causing further decline in stock price.
Luxury and premium brand retailers are seeking quality retail spaces for expansion, with new office moves reflecting a shift towards luxury malls, enhancing brand visibility.