Sebi board to discuss corp governance code, REITs tomorrow

Date : Dec 23, 2013

New Delhi: Capital market regulator Sebi is likely to discuss on Tuesday new Corporate Governance Code for listed companies and also certain new measures like real estate investment trusts or REITs for the benefit of market. The Securities and Exchange Board of India (Sebi) board is also likely to discuss new insider trading norms suggested by Justice N K Sodhi and a proposal to allow real estate REITs in India in a move to attract more investments into the capital market, sources said. The regulator would seek board approval for the new code, which is being put in place after taking into account public comments to draft corporate governance norms released by Sebi earlier this year along with related provisions in the new

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CREDAI Property Show to Conclude Today

Date : Dec 22, 2013

The members of the CREDAI (Confederation of Real Estate Developers’ Associations of India) Trivandrum chapter expect a 25 to 50 per cent increase in sales from the ongoing property show organised by it here. Around 1,500 people are expected to walk into the show, which will conclude on Sunday. “The people who turn up for the show are genuine buyers who intend to make investments in flats as the show is not clubbed with any other activity. Till Saturday, around 500 visited the show. The number is expected to go up to 1,500 by Sunday as it is a holiday,” CREDAI Trivandrum chapter chairman  S N Raghuchandran Nair said. This is the third property show organised by the CREDAI here.

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Hope Returns, Interest Rate Remains Key

Date : Dec 21, 2013

The stage seems to be set for the real estate sector to take a turn for good times again. When everyone expected a rate hike in the Reserve Bank of India's policy review on December 18, the central bank surprised all with a status quo on rates. Another bonanza soon followed: State Bank of India and HDFC, the top two home loan providers, slashed home loan interest rates between 30-50 basis points. Both these unexpected moves have rekindled hopes in the struggling real estate sector at a time when housing demand remained largely stagnant across major urban markets in India. The sector of late has been witnessing end-user perceptions of inflated housing prices, as well as high borrowing costs that kept off home buyers. In fact,

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Realtors See Realty Boom Post-polls

Date : Dec 20, 2013

Several real estate associations of South India converged at the two-day conference organised by the Confederation of Indian Industries here to discuss various aspects and prospects of real estate sector. The conference titled, ‘Estate South -- Making an Impact on Indian Real Estate’ was inaugurated by CVR Rajendran, chairman and managing director of Andhra Bank, who noted that real estate in southern region of the country alone contributed 25 per cent to GDP. He said, the government could utilise funds from pension and insurance sectors in real estate sector to enable faster and improved development of infrastructure. He advised builders to continuously contribute to the supply without looking at the de

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Indian Realty Trends Turn Favourable for NRIs

Date : Dec 19, 2013

Dubai: Expat Indians looking to acquire property back home will do well to negotiate hard with developers. The real estate cycle, for now, is certainly rolling in their favour. India’s property market is going through a downturn as domestic demand has dried up and interest rate spikes have made acquisitions that much costlier. So far, there has been no marked drop in values in prime cities, but developers with new projects on their hands and units to sell will have more “realistic” expectations with their pricing. “Certain developers in select micro-markets with a high inventory level may need to rationalise prices in the short term to facilitate sales of unsold units,” said Anshuman M

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Kerala's Islamic NBFC to launch venture capital fund

Date : Dec 18, 2013

KOCHI: Cheraman Financial Services Limited (CFSL), Kerala's Sharia-compliant non-banking finance company (NBFC), will soon launch venture capital fund (VCF) with a corpus of Rs 250 crore. A P M Mohammed Hanish, managing director of CFSL, said the fund would be raised from institutional and individual investors within the country and outside. The regulatory body -- Securities and Exchange Board of India (Sebi) -- has granted permission for the launch of the VCF by CFSL. To be named as Cheraman Premium Fund, the VCF will be deployed to support start-up initiatives and infrastructural projects. "We have already received about 50 investment proposals seeking funds, and we will shortlist them to select about 10,&q

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Builders Shown Benefits of Green Concepts

Date : Dec 17, 2013

MYSORE: To highlight the importance of green concepts among builders and industrialists, Builder's Association of India (BAI) is organizing a seminar on 'Sustainable - Myth or reality' at Senate Bhavan here. Addressing the gathering on Saturday, the first day of the event, BAI (Mysore) chairman N P Vishwanath said: "We should recharge, recycle and reuse materials for sustainable development. We must act together to ensure this." Public works minister H C Mahadevappa said: "Man should evolve in accordance with nature. The air we breathe should be free of pollution for us to be healthy. There has been population explosion, and in the race to meet people's demands, we should not miss

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Book Your Dream Home Online Tata Housing partners with Google

Date : Dec 15, 2013

Media News New Delhi, December 14, 2013 Tata Housing Development Company, India’s fastest growing real estate company announces an unique opportunity for aspirers to purchase their dream homes online during the Great Online Shopping Festival by Google from 11th – 13th December, 2013. In a first of its kind initiative, Tata Value Homes (TVHL), a 100 percent subsidiary of Tata Housing has partnered with Google to enable booking your dream home online at La Montana (Pune), Inora Park (Pune), New Haven (Bengaluru) and New Haven Compact (Ahmedabad). This scheme will empower the consumers to own a home by paying only the booking amount of Rs. 20,000. Tata Value Homes has integrated a payment gateway and is also offer

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Maximum homes sold are priced under Rs 5,000/sq ft: Research firm

Date : Dec 14, 2013

NEW DELHI: Apartments priced under Rs 5,000 per sq ft account for nearly three out of four homes sold in Mumbai, National Capital Region, Pune, Bangalore and Chennai over the past year, data from real estate research firm Liases Foras shows. While such homes comprised 73% of the total sales in these areas, the figure was an even higher 84% in Bangalore and Pune. About 78% of the sales in Chennai and 80% in the National Capital Region were in this category while the Mumbai Metropolitan Region saw the lowest proportion of apartments sold in this segment, at 42%. "People in this segment realise that prices will only go up and this level of affordability will be hard to get in the future," said Lalit Kumar Jain, chai

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Affordable housing on realty majors' agenda

Date : Dec 13, 2013

S K Garg, chairman of Eldeco, said realty was contributing 6.3% to India's GDP Affordable and economically weaker sections (EWS) housing would be the central theme at the annual summit of the country’s leading real estate developers this week. Confederation of Real Estate Developers’ Associations of India (CREDAI), which is hosting ‘CREDAI Conclave 2013’ at New Delhi on December 13-14, would brainstorm on the present and future challenges before the realty sector. “We would discuss issues of affordable and EWS housing, which is imperative for meeting the dwelling needs of the masses,” CREDAI UP Real Estate Development Council (REDCO) president S K Garg told Business Standard here

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Property Prices in Mumbai, Delhi Highly Overvalued: Analysts

Date : Dec 11, 2013

Bangalore: After years of double-digit growth, house price rises in major Indian cities are expected to slow to just under 8 percent next year as a cooling economy and rising interest rates deter new buyers, a Reuters poll showed. The survey of 11 property market analysts conducted over the past three weeks was for house prices in Asia's third-largest economy to rise 7.8 percent next year, well below the current rate of consumer inflation of around 10 percent. The findings of the latest India housing market poll are similar to recent Reuters polls conducted in the United States, Canada, Britain, China and Brazil, where home price rises are also expected to lose momentum but not fall. Home sales in India slowed thi

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Real Estate War Open ! Cong's Controversial Projects Likely To Go Under Scanner

Date : Dec 10, 2013

JAIPUR: Transition to a new order or regime is usually never smooth and it's not going to be seamless either for some industrial projects approved in a hurry due to the state elections. As the BJP is set to take charge of the government, such projects are most likely to come under review. During the election year, Ashok Gehlot announced many projects promising job creation and development to strike a chord with the voters. The refinery in Barmer was not only the biggest but the most controversial of them all. The political intent behind the project was neither lost on the people, nor on Raje, who during the election campaigns, had already raised serious objections to the project. She said there is no reason for state g

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