Real Estate & Property Investment News in India from Propertyshowrooms.com

Ansal to invest Rs 500 cr in low-cost housing

Thu, 22 Jan 2009 00:00:00 GMT

Ansal API on Thursday announced an investment of Rs 500 crore in the next l8 months to develop 10,000 affordable homes, which are expected to be priced between Rs 2.5 lakh to Rs9.51akh. The housing projects are coming up in the states of Uttar Pradesh and Rajasthan in places like Lucknow, Agra and Meerut in UP...

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...

Indian Property Developer Bailout Backfiring

Sun, 18 Jan 2009 00:00:00 GMT

A recent initiative by the Indian government to prop up property developers by allowing banks to restructure and extend loans is backfiring and turning into another fiasco...

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...

Indian Property Market Slump - 5000 Jobs lost in construction in Pune

Fri, 16 Jan 2009 00:00:00 GMT

Pune, India seeing construction projects cancelled and workers laid off Falling sales, dropping prices and cash shortages have cause the cancellation of more than 450 real estate projects in Pune, leading to around 5,000 construction workers and many others being made redundant...

Al Fara Group to increase partnerships for India

Thu, 15 Jan 2009 00:00:00 GMT

The Al Fara Group has announced it is to work on furthering business relations between India and the United Arab Emirates (UAE). According to the company, Dr JR Gangaramani, its president and executive chairman, has been responsible for the establishment of the Indian Business Professional Group, set up to increase communication between the two countries. He stated...

Private cos to invest Rs 3,000 cr in Gujarat realty sector

Mon, 12 Jan 2009 00:00:00 GMT

Ahmedabad: Private companies will sign MoUs with the Gujarat Government to invest over Rs 3,000 crore in the realty sector in the areas under Vadodara Urban Development Authority, Vadodara Municipal commissioner Manojkumar Das said. He said the MoUs would be signed during the Vibrant Gujarat Summit to be held in Ahmedabad on January 12 and...

Three new schemes for Indian property investment developer

Fri, 9 Jan 2009 00:00:00 GMT

An Indian developer is starting 2009 on a positive note as it pushes ahead with three major new projects. Unitech Group issued a statement declaring it had now become India’s leading real estate builder with 22 huge residential schemes across the country. Its latest projects include Iconic Towers in the National Capital Region, Harmony at Uniworld...

Kingfisher launches daily Mumbai-London flight

Mon, 5 Jan 2009 00:00:00 GMT

Mumbai-London is the private carrier's second overseas flight after the one on Bangalore-London route that was launched in September. Kingfisher also plans to launch Mumbai-Hong Kong operations from January 12 and Mumbai-Singapore flight from January 16...

Realty biggies foray into affordable housing

Sun, 4 Jan 2009 00:00:00 GMT

New Delhi: Big is out, small is in. A host of private developers are getting busy launching new projects to cash in on the ‘affordable’ demand. Consumers looking to buy their own house can now heave a sigh of relief as many realty biggies are unveiling flats in the range of Rs 5 to 20...

Real Estate Developers in India Switching from Luxury to Budget Homes

Sun, 4 Jan 2009 00:00:00 GMT

Real estate developers in India have begun concentrating on budget homes instead of luxury developments...

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...

Oversupply in commercial real estate may continue in 2009

Fri, 2 Jan 2009 00:00:00 GMT

Bangalore: The over-suppfly scenario that 2008 had witnessed in the commercial real estate space could well continue in 2009, says the annual year-end report by Cushman & Wakefield, real estate services firm. While some companies, which had committed to larger spaces earlier, have scaled down their absorption as a prudent step to mitigate the cost on...

Laxey opposes India fund plan

Wed, 31 Dec 2008 00:00:00 GMT

The second biggest shareholder in Hirco, the Indian property fund, is urging a vote against plans for a reverse takeover announced a week before Christmas...

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...

Emaar, The Economic City awards SR325 million contract to Al-Radwan for building 134

Tue, 30 Dec 2008 00:00:00 GMT

Emaar, The Economic City, the Tadawul-listed company developing King Abdullah Economic City (KAEC), has signed a SR325 million contract with Al-Radwan Contractors, a leading Saudi Arabian construction company, to build 134 villas within the Resort Cove. Mr Fahd Al-Rasheed, Board Member and Chief Executive Officer, Emaar.E.CEmaar.E.C, and Mr Abdullah Al-Radwan, Chief Executive Officer, Al-Radwan Contractors, signed the...

World Bank to provide $14 bn to India for infra projects

Fri, 12 Dec 2008 00:00:00 GMT

The bulk loan offered to India is for developing its infrastructure projects and to achieve the millennium development goals. Further, part of the loan would be spent in the seven low-income states -- Bihar, Chhattisgarh, Jharkhand, Madhya Pradesh, Orissa, Rajasthan, and Uttar Pradesh -- to support the poverty reduction programmes...

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...

Internet presence essential for destination marketers in India

Fri, 12 Dec 2008 00:00:00 GMT

With over half of Indian travellers using the internet to search for information about destinations aboard, travel operators and tourist bodies need an effective online...

Rupee rises on dollar selling by banks

Wed, 3 Dec 2008 00:00:00 GMT

The rupee opened higher by 28 paise against the US currency today on dollar selling by exporters and banks after global equity markets registered early gains...

'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."...

Will terror attacks affect India's investment prospects?

Wed, 3 Dec 2008 00:00:00 GMT

The key to whether the current aversion will extend into the long run is whether the government has a plan to deal with both terror and kickstarting key economic reforms...

Jet Airways flights to Mumbai on schedule

Fri, 28 Nov 2008 00:00:00 GMT

Jet Airways' operations, both domestic and international, into and out of Mumbai have remained largely unaffected and are on schedule, the airline said in reference to the attacks reported in various parts of the city...

US, UK, Australia issue travel advisory

Thu, 27 Nov 2008 00:00:00 GMT

It noted that terrorists attacked two hotels, a railway station, restaurant, hospital and other locations in Mumbai frequented by westerners...

India may waive visa fee for foreign travellers

Fri, 21 Nov 2008 00:00:00 GMT

Gearing up to deal with an impending slowdown in tourist arrivals, the tourism ministry is considering waiving off visa fee for foreign travellers...

Rupee recovers against dollar

Fri, 21 Nov 2008 00:00:00 GMT

MUMBAI: The Indian rupee on Friday recovered by eight paise to 50.12/13 against the greenback in late morning deals on the back of some recovery in equity markets, despite sustained capital outflow...

Low-cost homes for growth

Thu, 20 Nov 2008 00:00:00 GMT

Policy makers all over the world are increasingly reaching for old Keynesian fiscal policy tools to salvage economies sliding into recession. But governments need to focus their spending on projects with the biggest social and economic spin-offs. Low-cost housing would surely rank high when it comes to a positive multiplier effect. Potential demand for low-cost...

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...

Airline offers low fare to Indian destinations from UAE

Mon, 17 Nov 2008 00:00:00 GMT

Air fare to two Indian states by the Indian national carrier has been brought to rock bottom in the M-class...

'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...

FIPB bars land resale by realtors with foreign JVs

Wed, 12 Nov 2008 00:00:00 GMT

The Foreign Investment Promotion Board (FIPB) has clarified that foreign joint ventures in the construction and development business will not be allowed to sell undeveloped land they acquire for projects...

Rupee weak on dollar buying by banks

Wed, 12 Nov 2008 00:00:00 GMT

The Indian rupee today fell by 37 paise against the greenback in early trade on heavy dollar buying by banks and pick-up in demand from importers amid weak Asian equity markets...

Obama to inherit troubled economy

Wed, 5 Nov 2008 00:00:00 GMT

Barack Obama's presidential election victory comes with an albatross of a prize — a U.S. economy beset by a stubborn housing slump and the worst financial crisis in 70 years...

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...

Dollar's strength may not last

Tue, 21 Oct 2008 00:00:00 GMT

The world, India included, has entered a period of substantially lower growth, which is likely to be prolonged because the balance sheet implications of the end of an unprecedented financial high wire act will take time to play out...

Why the global recession is also an opportunity for India

Tue, 21 Oct 2008 00:00:00 GMT

The near recession in the US and the global meltdown will, of course, have its impact on India's high-tech industry, as it is one of the greatest financial crises of our globalised times. But it also presents an opportunity for Indian services vendors to improve their market share, while forcing them to diversify and de-risk across sectors and geography....

South East Asia property market likely to weather the global downturn

Mon, 20 Oct 2008 00:00:00 GMT

Outside of India and China, Asia is well positioned to weather the global finance and property downturn, according to the latest analysis...

China and India Emerge as Top Property Investment Zones

Sun, 19 Oct 2008 00:00:00 GMT

Opportunities in Asian real estate over the medium and long term are so good that US investment bank Merrill Lynch has raised $2.65 billion of equity to invest in property in the region. It is the latest of a series of groups to announce that they are pumping billions of dollars into the Asian markets...

Malaysian carrier to launch low-fare flights to India

Fri, 17 Oct 2008 00:00:00 GMT

Airfares on the India-Malaysia route are likely to decline in the next few months, with no-frill Malaysian carrier Air Asia planning a major foray into the Indian market at fares ranging between Rs 5...

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...

Scomi Bags RM 2 Billion Mumbai Monorail Project

Fri, 17 Oct 2008 00:00:00 GMT

MUMBAI, Oct 17 (Bernama) -- Scomi Engineering Bhd, with its consortium partner, Larsen & Toubro (L&T), have won the bid to build the estimated RM2 billion Mumbai monorail project -- the company's maid...

Merrill raises fund for Asian real estate

Thu, 16 Oct 2008 00:00:00 GMT

Hong Kong: Merrill Lynch said Tuesday it had raised a $2.65 billion fund to invest in Asian real estate, tapping global investors despite the financial turmoil and falling real estate markets. Merrill’s fund is among the biggest to be raised for Asian property this year, though slightly smaller than a $3 billion fund announced by LaSalle...

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...

Honourable Kumari Selja to open Cityscape India

Mon, 22 Sep 2008 00:00:00 GMT

Minister of State (Independent Charge) for Ministry of Housing and Urban Poverty Alleviation to outline affordable housing initiative to international investors & developers at Mumbai real estate showcase The honourable Minister for Housing and Urban Poverty Alleviation, Kumari Selja, will be cutting the ribbon at this year’s Cityscape India, which is due to take place at...

Property discounts offered by developers in India to boost real estate market

Mon, 22 Sep 2008 00:00:00 GMT

Developers in India are starting to offer discounts in a bid to boost a slowing property market...

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...

Credit crisis to hit India Inc

Tue, 16 Sep 2008 00:00:00 GMT

MUMBAI: The crisis on the Wall Street would hit the fund-raising plans of India Inc hard. “The markets are shaky... and that could be bad news for a lot of Indian companies which are planning to ...