Real Estate & Economic News in India from Propertyshowrooms.com

Inflation shouldn't affect RBI rate cuts: Moody's

Thu, 22 Jan 2009 00:00:00 GMT

After declining for 10 consecutive weeks, Inflation, based on wholesale prices, rose by 0.36 percentage points for the week-ended January 10, from 5.24 per cent for January 3...

Global meltdown continues to hit tourism industry

Fri, 16 Jan 2009 00:00:00 GMT

Experts feel that the international tourism will be 10 to 15 per cent less compared to last year. The year 2008 saw average 20 per cent less foreign tourists visiting this coastal state famed for its pristine beaches. The impact has already started showing up as Monark, one of the largest chartered flight carrier, cancelled its once a week Goa operations from January 9 onwards...

RBI cuts key interest rates again

Fri, 2 Jan 2009 00:00:00 GMT

The Reserve Bank on Friday eased money supply further by cutting key policy rates and ratios - decisions that would among other things infuse Rs 20,000 crore (Rs 200 billion) into the banking system...

Second Indian Stimulus Package On The Cards, Says Nath

Wed, 31 Dec 2008 00:00:00 GMT

India's Trade Minister, Kamal Nath recently trailed the planned introduction of a second stimulus package, this time containing measures expected to benefit small and medium-sized enterprises, exporters not targeted by earlier initiatives, and the real estate sector...

Credit losses in US may cross $3 trillion

Fri, 12 Dec 2008 00:00:00 GMT

The world's largest economy US is expected to witness credit losses of a whopping 3.1 trillion dollars, as the country experiences worsening recessionary trends...

Growth fall jolts Indian economy

Fri, 12 Dec 2008 00:00:00 GMT

India's industrial growth shrinks for the first time in more than a decade as it feels the fallout of the global credit crunch...

'World economy has shifted from West to East'

Wed, 3 Dec 2008 00:00:00 GMT

Releasing his book, An Asian Century Manifesto- Global Political Economy of the 21st Century, at the Nehru Centre in London on Tuesday night, senior public policy advisor Atma Singh said, "World economy has shifted from the West to East in the 500 years and India, along with China, is going to propel the economic growth in the world in the 21st century."...

CREDAI appeals for reduction in residential property prices

Wed, 19 Nov 2008 00:00:00 GMT

Real estate developers across the country expected to review prices. CREDAI is the apex body of real estate developers in the country with a membership of 3500 plus developers in 18 states across India. CREDAI is concerned with the general slowdown of the economy. CREDAI is also aware of the negative consequences of this slowdown in terms...

'Bailout Man' disappoints US taxpayers

Wed, 12 Nov 2008 00:00:00 GMT

Neel Kashkari first major speech, at a conference in Midtown Manhattan, not only left the media grumbling, it also failed to send any clear signal to the stock markets...

Global Financial Woes Hurting Investor Sentiment

Mon, 3 Nov 2008 00:00:00 GMT

"Our first priority was to protect the Indian financial system from a possible loss of confidence or contagion effects," Singh said at a meeting with industrialists. Local banks don't have direct ex...

Indian airline sector 'to shrink'

Fri, 17 Oct 2008 00:00:00 GMT

Half of India's airlines could disappear during the current downturn, Air India boss Raghu Menon tells BBC News...

India-China trade volume to touch USD 57 billion by 2010

Tue, 23 Sep 2008 00:00:00 GMT

Bangalore, Sep 22: The bilateral trade agreement between India and China, which stood at only USD 18 billion in 2005 would leap frog to 57 billion dollars by 2010 when over 150 Indian companies, inclu...

Will financial crisis derail India

Tue, 23 Sep 2008 00:00:00 GMT

Financing India growth would not be that much of an issue Deepening financial distress in the United States has affected even the most basic financial intermediation, with US authorities current...

'India will sustain over 8% growth rate'

Tue, 23 Sep 2008 00:00:00 GMT

Given the strong fundamentals of the Indian economy, it will be able to sustain a growth rate of over 8 per cent over the next ten years and continue to attract investments in services and manufacturing sectors, Indian Minister of State for Commerce and Industry said in New York. "Despite some developments that are not favourable, we will still manage to have robust growth," Ashwani Kumar said...

Unrest ends Kashmir tourism revival

Tue, 16 Sep 2008 00:00:00 GMT

Protests against India's rule in the spectacularly beautiful Kashmir valley have brought an abrupt halt to tourism, which had been showing signs of a hard-won recovery, officials said. In the past few...

Shares held by Lehman in India stumble

Mon, 15 Sep 2008 00:00:00 GMT

Shares of some of the holdings of Lehman Brothers in India as a foreign institutional investor including its holdings in sub-accounts, tumbled. GTC Industries (down 13.32% to Rs 108), KPIT Cummins Inf...

Inflation in India falls from 13-year high

Fri, 12 Sep 2008 00:00:00 GMT

India's double-digit inflation, which is running near 13-year highs, slowed for the third week in a row, the government reported Thursday.The annual rate of inflation stood at 12.10 percent for the we...

Inflation dips to 12.10%

Thu, 11 Sep 2008 00:00:00 GMT

The government's efforts to bring down inflation to tolerable limits and curb runaway prices might have begun to bear some fruit, albeit at a snail's pace...

'Opening up banking will offer new opportunities'

Thu, 11 Sep 2008 00:00:00 GMT

"Opening up will give us new opportunities such as greater freedom to open branches. On the inorganic side, there could be opportunities to take larger stakes in banks or to take management control. If anything of that happens, we will be interested," says Standard Chartered's regional chief executive for India and South Asia Neeraj Swaroop...

Rupee at 45/$ may fuel inflation further

Wed, 10 Sep 2008 00:00:00 GMT

The breaching of the crucial 45-level by the rupee against the US dollar for the first time in 21-month may augur well for exports in the country, but is likely to fuel inflation further, which is hovering over 12 per cent at present, experts feel...

Ashok Chawla is secretary of economic affairs

Wed, 10 Sep 2008 00:00:00 GMT

The first indication that the United Progressive Government may opt to hold the General Election before schedule came on Tuesday, when Prime Minister Manmohan Singh appointed Ashok Chawla s secretary, economic affairs instead of picking up a full-fledged finance secretary...

Real estate developers forsee high sector growth: report

Wed, 3 Sep 2008 00:00:00 GMT

New Delhi: A latest Ernst & Young survey, titled Realty Pulse, of real estate developers points out that 62% respondents on being asked about the “the current phase of Indian real estate” foresee the Indian real estate sector embarking upon high growth trajectory in the long-term, despite the momentary slowdown witnessed over last 12 months. The...

DLF to go global to beat local slump

Tue, 26 Aug 2008 00:00:00 GMT

DLF, the country’s largest real estate developer, plans to enter housing development projects in the overseas markets to overcome a slump in the domestic property market, a television channel reported today, citing Chairman K P Singh. The property developer may build houses in Singapore and Malaysia, which have a large Indian population, the television channel reported...

Real estate firms delay plans, shares face the heat

Tue, 19 Aug 2008 00:00:00 GMT

Mumbai: Most Indian developers have hit the brakes on fresh land acquisitions as a slide in the stock market, rise in interest rates and aggressive demands of the private equity investors have limited funding options. After five years of boom, real estate firms in India are grappling with tepid sales and cash crunches as inflated property...

Inflation surpasses 12% in India

Fri, 8 Aug 2008 00:00:00 GMT

Indian inflation hits a 13-year high above 12% despite government efforts to tighten monetary policy...

Real estate prices in bubble zone

Wed, 30 Jul 2008 00:00:00 GMT

The question that bothers a lot of prospective home buyers is whether they will miss the bus if they wait any further. However, the right question should be: Can I afford to buy a house today? Even if you are one of those blessed ones, the thought should be: Is it a fair price for...

Realty projects, home loans set to get costlier

Wed, 30 Jul 2008 00:00:00 GMT

The Reserve Bank of India’s decision to revise repo rate and cash reserve ratio is expected to bite the realty industry, which is already burning under a slowdown and price correction. Loans for housing will get dearer and interest sensitive sectors like real estate will be hit hard, said Mallinath Madineni of Arthaeon Financial Services. “We expect...

IVRCL Infra to sell costly land, buy low-cost plots

Tue, 22 Jul 2008 00:00:00 GMT

City-based construction firm IVRCL Infrastructure and Projects has plans to sell its high-priced pieces of land, including the 25-acre information technology special economic zone (SEZ) plot in Noida, and purchase low-cost property in the light of the downside in real estate business in the country. “With the real estate being what it is now, our first...

Private equity firms build up on Indian realty firms

Fri, 18 Jul 2008 00:00:00 GMT

New Delhi: Real estate and infrastructure management sector saw Private Equity (PE) deals worth $2.32 billion in the first half of 2008, nearly three per cent higher than the year-ago period, even as the average deal size fell over nine per cent reflecting the sluggishness in the market. According to Grant Thornton, 33 deals were inked...

Delhiites prefer to wait & watch

Thu, 17 Jul 2008 00:00:00 GMT

Even as real estate transactions have slowed down in the national capital region (NCR), the capital rates have largely remained firm. Both buyers and sellers seem to have opted for a wait-and-watch policy. While the buyers are pinning their hopes on a price correction, sellers are expecting another spurt of price in the wake of pent-up...

Developers cutting out frills

Wed, 16 Jul 2008 00:00:00 GMT

Developers resigned to the increasing costs of construction are now hoping to save on expenditure to protect their margins. The easy option of passing on additional costs to the buyers is now not available in the face of slow sales of residential units across most cities. With the prices of major inputs, including cement, steel, aggregates...

Indian developers target booming Middle East realty market

Wed, 16 Jul 2008 00:00:00 GMT

With the construction boom in the Gulfmarkets, realestate majors in India such as Hiranandani Constructions, Sheth developers, Nahar Group and Damac Properties are planning to develop their realty business in multiple locations including Abu Dhabi, Ajman, Istanbul and Dubai. Indian real estate investors based out of the Gulf who have earlier invested in Indian properties too...

India's Property Sector May Offer Bargains

Wed, 16 Jul 2008 00:00:00 GMT

Amid the debris of a battered Indian real-estate sector, some analysts say investment bargains may be emerging. Their favorites: blue-chip property companies DLF and Unitech...

NRIs to spend Dh122m in Indian housing plans

Wed, 16 Jul 2008 00:00:00 GMT

Non resident Indians (NRIs) in the UAE are expected to invest up to Dh122 million in India's emerging housing market across 16 rural development, according to industry experts...

US real estate services firms on buying spree

Tue, 15 Jul 2008 00:00:00 GMT

Real estate services companies are buying each other even as the global credit crisis slows merger and acquisition activity in other sectors of the US economy. The firms, which help global companies locate, own, rent, buy and manage their real estate properties, also manage funds for investors in commercial real estate. Unlike other sectors, they have...

Alliance Group to raise money via pvt equity route

Tue, 15 Jul 2008 00:00:00 GMT

Bangalore: The Alliance Group, a Bangalore-based real estate developer, is planning to raise money via the private equity (PE) route to develop its land bank spread across five cities in south India. Declining to reveal the PE entity and amount being raised, Manoj Namburu, chairman and managing director of Alliance Group, said on Friday, “The group...

Ansal API launches hi-tech city project

Tue, 15 Jul 2008 00:00:00 GMT

New Delhi: Real estate company Ansal Properties and Infrastructure Ltd (Ansal API) on Saturday announced the launch of its hi-tech city project ‘The Megapolis’. The UP Government approved township adjoining Greater Noida would be spread over 2,500 acres and is extendable to about 9,000 acres. “The investment in the project will be close to Rs 13,600...

Five opportunity areas in retail

Wed, 9 Jul 2008 00:00:00 GMT

The Indian economy has been on a high growth trajectory the last few years. Indicators such as Gross Domestic Product (GDP) growth, per capita income levels, consumer awareness levels and the regulatory environment present a positive outlook for the nation’s development. GDP is growing at 8-9 per cent per annum and is expected to continue at...

Dip in Mumbai property market prompts developers to offer freebies

Wed, 9 Jul 2008 00:00:00 GMT

The property market in Mumbai is reporting a dip in house prices and rentals, with those in the suburbs the worst affected...

Akruti City plans JV with Pacific Alliance Group

Tue, 8 Jul 2008 00:00:00 GMT

After having raised Rs 1,500 crore from private equity funds Citi Venture Capital International and AIG.the publicly listed Akruti City is now planning to form a 50:50 joint venture (JV) with USA-based Pacific Alliance Group (PAG) - an entity involved in construction apart from residential and townships development. Hemant Shah, chairman, Akruti City told FE...

NRIs home in on India, account for 10% of sales now

Tue, 8 Jul 2008 00:00:00 GMT

Home sales in India might have turned sluggish but sales to non-resident Indians (NRIs) is booming. According to Jones Lang LaSalle Meghraj (JLLM), residential sales to NRIs have tripled over the last six months, from 3% to about 10% of the total sales. “What would happen when one loses his job in the US? The downturn...

Sobha gets $10mn FDI for housing

Tue, 8 Jul 2008 00:00:00 GMT

Sobha Developers on Monday said it has received $10 million of foreign investment for setting up a residential project in Bangalore. The company has received Foreign Direct Investment from Dubai-based Pan Atlantic LLC totalling $10 million for a 40 per cent stake in a Special Purpose Vehicle (SPV), Sobha Developers said in a filing to...

DLF plans Rs 800-cr fund for construction infra push

Tue, 8 Jul 2008 00:00:00 GMT

DLF is looking at setting up a Rs 800-crore venture capital (VC) fund with a mandate to invest in companies engaged in equipment management and construction activity. This is being seen as a strategic move by DLF to support its rapidly expanding construction activity. The Delhi-based firm has filed the documents with market regulator Sebi seeking...

Realty on the boil

Mon, 7 Jul 2008 00:00:00 GMT

The Stock markets are in a flip-flop mode and that’s giving sleepless nights to investors. But if experts are to be believed, the heavy duty bad news could be coming from the real estate markets soon. SundayET has learnt that there’s a further 15-20% dip in the offing in residential capital values, in a market that’s...

Status symbol

Mon, 7 Jul 2008 00:00:00 GMT

Brigade Gateway is located in North-West Bangalore where some neighbourhoods still capture the good-old Bangalorean way of life and where owning an independent house is still a status symbol. Bangaloreans today are opting to shift into high-rises and residential enclaves that are designed as ‘lifestyle enclaves’ supported by essential infrastructure like a super-specialty hospital, mall...

Living on the edge

Mon, 7 Jul 2008 00:00:00 GMT

The realty sector in Mumbai and its suburbs has seen a correction — both in terms of home prices and rentals, in the recent months. While home sales have dipped by almost 70% in Greater Mumbai, prices are still stable. But the suburbs have witnessed a 10-15% correction. The property market is mellowing down because of...

Skyscraping bull run

Sun, 6 Jul 2008 00:00:00 GMT

In the past year, this company has done full justice to its name. Indiabulls Real Estate Limited (IBREL), with projects spreading over a total land area in excess of 10,000 acres, has taken a giant leap from rank 320 last year to the B&E Power 100 list at rank 83. It’s now one of the...

Delhi sees a retail boom

Sun, 6 Jul 2008 00:00:00 GMT

The fifth economic Census of Delhi 2005 may have put Delhi at the 16th position among 35 states and union territories in terms of growth in the number of business establishments, but the city still seems to hold on to its reputation as a centre of retail and wholesale trade, even if manufacturing has taken...

India-focused realty cos miss AIM as mkt falls

Thu, 3 Jul 2008 00:00:00 GMT

A slowdown in the Indian real estate market has cast a shadow on the property funds listed on London’s Alternative Investment Market (AIM). All the five India-focused property funds floated by local developers have been underperforming in the past two months. On an average, they registered an 18% negative return over the last two months...

DLF underlines India's woes

Thu, 3 Jul 2008 00:00:00 GMT

If investors in India's beleaguered stock exchange were looking for a sign of the times, they were provided with one this week by DLF, the country's biggest publicly listed developer...