Parsvnath Developers sentenced to prison for delayed refunds to homebuyers, highlighting the issue of pending apartments in Greater Noida. Over 1 lakh apartments remain undelivered, with builders owing GNIDA ₹6,000 crore.
Parsvnath Developers to invest ₹1,100cr in Gurgaon-Sohna road township, aiming ₹2,700cr revenue in 4 years.
Assotech and Sun-Apollo announce a Rs 500 crore housing project in Gurgaon, located on Dwarka Expressway, with the development of apartments and villas.
Parsvnath Developers is selling its prime 1.18-acre land near Connaught Place, with potential buyers including Sahara Group and ICICI Bank aiming for a deal worth Rs 700 crore.
Parsvnath Developers is in talks with Sahara Group and ICICI Bank to sell its 1.18-acre plot near Connaught Place, aiming to reduce its Rs 1,300 crore debt.
JP Morgan has financed $30 million for Parsvnath Developer’s La Tropicana residential project in New Delhi, allowing Red Fort Capital to exit with a 30% return.
Indian developers prioritize feasibility studies and strategic alliances to avoid repeating 2009 real estate downturn. Focus on buyer-oriented projects rather than speculative ventures.
CREDAI to meet RBI Governor, seeking lower interest rates and debt restructuring for struggling real estate sector.
Indian real estate companies resist government pressure to lower prices, citing high taxes and low demand. Developers believe reducing interest rates is key to reviving the market.
Real estate sector faces slump due to high interest rates and economic slowdown, forcing developers to focus on affordable housing in Tier-II and Tier-III cities.
Parsvnath Developers postpones retail expansion due to economic slowdown, but SEZ stake sale to private equity investors nears finalization.
The real estate sector faces a crisis due to tight liquidity and rising interest rates, impacting construction and employment. Industry leaders urge for policy changes to facilitate funding.
Parsvnath Developers' Diwali sales dropped 40-50% due to high interest rates and lending restrictions. Despite this, the company plans to maintain prices, focusing on cost reduction by cutting salaries and expediting projects.
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.
Parsvnath Developers expects to generate Rs. 2.10 billion from a new housing project in Dharuhera, Haryana, set for completion by 2011.
As Indian property firms seek growth in international markets, they are establishing offices abroad to tap into new business opportunities amid a domestic slowdown.
Parsvnath Developers plans to invest up to Rs 500 crore for land acquisitions in FY 2009, focusing on integrated townships. The realtor added 66 acres of land in the latest quarter and has completed land acquisition for 8 SEZ sites. Parsvnath is also in advanced talks to sell stake in its SEZ projects and plans to build hotels and open retail stores during the current fiscal.
Young Builders acquired DMRC's 2-hectare land in North Delhi for Rs 220 crore to develop a residential complex, impacting nearby property values like Parsvnath Developers’ project.
Chandigarh's real estate market is experiencing a challenging phase with mixed sentiment among investors and local buyers. Key developments include declining prices and major investment projects.
Parsvnath Developers affirms no price reduction for its properties, with chairman Pradeep Jain stating prices will go up due to rising input costs.
Parsvnath, Sabeer Bhatia partner for Rs 50,000-crore knowledge city in Haryana
Sabeer Bhatia's Nano City project in Haryana to partner with Parsvnath Developers. The deal involves 30-38% equity stake and development rights, focusing on 11,000 acres with a first phase investment of Rs 1,500 crore.
Residential rents in India are rising by 10% due to high demand, low rental yields (3-6%), and high home loan interest rates (11-13%). Many potential buyers are delaying purchases, increasing rental demand.
HDFC chief points out how environmental clearances result in substantial delays and cost overruns in housing projects, raising concerns among real estate developers about mounting expenses and inefficiencies.
Despite a nationwide economic slowdown, real estate prices remain resilient while shares of real estate companies have plunged, prompting cautious sentiment among investors and brokers.