The recent terrorist attacks in Mumbai are expected to further depress property prices, especially in South Mumbai, affecting both sales and rentals.
Real estate developers in Mumbai plan to target NRI buyers in the UAE to boost sales. Rupee depreciation and declining prices are seen as potential advantages for buyers.
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.
DLF seeks refund of Rs 235 crore license fees from Haryana government for various projects in Gurgaon to boost cash reserves.
RBI's stricter loan restructuring norms for real estate developers are pressuring builders to reduce property prices or face funding shortages. This move aims to address rising NPAs and revive the struggling real estate sector.
Real estate player Unitech repays Rs 200-crore loan to Indiabulls Financial Services through asset monetisation and internal debt restructuring.
Indian real estate firms target Middle Eastern diaspora for investment amid economic slowdown, with focus on infrastructure and key sectors in upcoming investment meets.
Mahindra and Mahindra declares no slowdown in its real estate ventures despite a general demand slump. Key cities like Jaipur, Chennai, and Faridabad are noted for strong performance.
Finance Minister P Chidambaram assured real estate developers that the government will encourage banks to boost lending and lower interest rates for affordable housing.
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.
Naredco and Credai have urged the government to ease foreign investment norms and modify regulations to boost funding for ongoing real estate projects amid a credit squeeze.
With soaring real estate prices on Earth, some are considering purchasing land on the moon, which, despite legal hurdles, offers a unique and affordable opportunity.
Mumbai developers consider halting new residential projects due to market slowdown, impacting sales and leading to job cuts in the construction industry.
Amidst lending reluctance from banks, real estate developers are turning to lease discounting for ongoing commercial projects, providing banks with guaranteed cash flow and a safer lending option.
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.
Phoenix Group Global launches Zuri brand of luxury hotels and resorts in India. First hotel to open in Bangalore, with plans for five more across the country.
Private equity investors are shifting focus from traditional sectors like real estate and financial services to emerging sectors like education, healthcare, and infrastructure due to their growth potential.
Real estate leaders express optimism about RBI's CRR cut, anticipating improved fund flow and project execution, yet caution about inflation balance.
GMR Group seeks bids for hotels near Delhi Airport, aiming for Rs 1,375 crore in security deposits. The 45-acre hospitality district project, delayed since 2008, features plots for budget to ultra-luxury hotels.
Parsvnath Developers expects to generate Rs. 2.10 billion from a new housing project in Dharuhera, Haryana, set for completion by 2011.
Leading real estate companies see sharp declines in advance tax payments amid economic slowdown, highlighting industry challenges and liquidity issues.
India's real estate sector is experiencing a significant downturn, prompting developers to offer extravagant incentives, such as free BMW cars, to entice buyers of luxury apartments.
Mahindra Lifespaces plans to enter the affordable housing sector within a year, targeting middle-income groups amidst a growing housing shortage in India.
Sarda Group acquires facility management brand Talbot & Company, venturing into real estate management. Expansion plans include increasing manpower to 1,000 and achieving Rs 300 crore turnover.
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.