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Small Cities Observe 35% Drop in Realty Prices
The demand for real estate in smaller cities and towns has plunged nearly 35 per cent in the first seven months of the current fiscal, as many realtors deferred their projects owing to higher borrowing costs. The sharp decline in demand for property was witnessed in Tier II and Tier III cities inclu ...
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Relief for Battered Realtors May Come Soon
The urban development ministry has drafted a bailout package for the real estate industry, which would be shortly sent to the finance ministry for consideration. The ministry has called for relaxation in norms for foreign loans so that realty companies can tide over the liquidity crunch, urban devel ...
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DLF and Unitech Witness Slow Growth
DLF Ltd. and Unitech Ltd., Indias two largest property developers, were downgraded by Merrill Lynch Co. on concern that sales will slow and prices will decline as the nations economic growth falters. DLF was lowered to neutral and Unitech was cut to underperform, analysts Amit Agarwal and Gag ...
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Demand for Office, Retail Space can Suffer Because of Terror Attacks
Mumbais terrorist attack, the deadliest in India in 15 years, may cut demand for offices and retail space in the nations financial capital, Macquarie Research said today. If the government action does not help bring confidence back for foreign investors, we could see an impact on demand for comme ...
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Farmers Complain Forcible Acquirement by Mangalore SEZ
A special economic zone (SEZ) to be co-developed by a state-run oil company in Karnataka has run into trouble, with local farmers complaining of forcible acquisition. However, the Union commerce ministry, which notifies SEZs, has given a clean chit to the developers, saying that the land in dispute ...
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Omaxe Aims NRI Buyers
With the rupee depreciation with the dollar, Omaxe and other property developers in India plan to target the NRI buyers. NRIs can get a good deal now because of the recent depreciation of the rupees against the dollar. This would benefit NRI purchase around 20 percent. Property investment in India a ...
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Tough Time for Real Estate Developers
Following an appeal by finance minister P Chidambaram to the entire real estate industry to cut prices and make houses more affordable to the buyers, the developers associations National Real Estate Development Council (Naredco) and Confederation of Developers Associations of India (Credai) bo ...
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Home Loan Interest Rates can Drop
Most banks have not reduced their prime lending rate (PLR) to the extent the Reserve Bank of India (RBI) has cut the rates. Therefore, analysts expect home loans rates will go down as more clarity comes on the issue. The government is exerting pressure on public sector banks to reduce their lending ...
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Real Estate Developers Thinking of Rate Cut
Real estate developers in India should lower prices given the general slowdown in the economy, the Confederation of Real Estate Developers Associations of India (CREDAI). Some developers across the country have already reduced prices, CREDAI now requests all its members to do the same, the real esta ...
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Luxury Hotels Vulnerability Exposed
Just as the Sept. 11, 2001, attacks have had a lasting effect on aircraft cockpit security, with reinforced doors separating pilots from passengers, the deadly terrorist attacks that started Wednesday at the Oberoi and Taj Mahal Palace and Tower hotels here could leave an enduring imprint on the des ...
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Real Estate India can Suffer Because of Attacks
Following the recent terrorist attacks in Mumbai, India, real estate in India is expected to be significantly affected, analyst´s say. The attacks will have a ripple effect on the volumes across the Mumbai city and the country, Pranay Vakil, chairman, Knight Frank India said. Prior to the recent t ...
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Mumbai Refuses to Surrender
Mumbai may be under siege, but the fabled Mumbai spirit will be back in full play when the dark night dissipates and the morning dawns. After all, Mumbai, a city in incessant movement, cannot stop, inherently. The stock, money and commodity markets will probably be up in the morning. The chief minis ...
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Indias Expanding Hospitality Industry Bears the Brunt of Attack
The hospitality industry will, doubtless, bear the brunt of the terrorist attacks, with two of the countrys most prestigious hotels being under siege. The damage caused by the firing and blasts inside the hotels will only form a small portion of the overall cost the industry will have to bear. Anal ...
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Attacks can Result into 25-30% loss in Hotel Business
Hotels in India may see a 25-30 per cent drop in bookings by foreign in-bound tourists, following the terrorist strike on luxury hotels and blasts in Mumbai, which claimed more than 100 lives and left over 250 injured. The attack comes at a time when the hotel industry is already suffering from weak ...
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Modern Retail the Next Hot Sector of Indian Economy
As Indias middle class grows and disposable incomes rise, modern retail is becoming the next hot sector of the Indian economy. Hundreds of millions of new consumers will join this retail revolution, venturing into supermarkets, department stores and air-conditioned shopping malls for the first time. ...
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Mumbai Terrorist Attacks are a Blow to Indias Retail Industry
The attacks in Mumbai struck at the core of the fledgling luxury-goods industry in India, threatening to dampen the vibrant growth of one of the sectors key developing markets. Mumbais Taj Mahal Palace hotel, the epicenter of the attacks, is the most coveted retail address for luxury goods firms tha ...
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Real Estate Punjab Hit by Global Crunch
The meltdown being witnessed around the world is having a significant effect on the states real estate business. Property dealers, who were already seeing a decline in their income, have seen a decline of 60 per cent in their earnings. New deals are hard to come by and deals already finalised are a ...
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Falcon Aims to Redefine Indian Real Estate
Aiming to redefine the Indian real estate landscape by offering the concept of affordable luxury while promoting green living, Falcon Realty Services Private Limited (FRSPL), a company actively involved in land acquisition and land consolidation in India for over two decades and a premier in green b ...
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House Prices Dip By 10% In Orissa
Even as the real estate sector in Orissa is stated to not have been affected by the meltdown as in the metros and other parts of India, the builders in the State under Confederation of Real Estate Developers Association of India (CREDAI) have announced a rate cut in house prices by 10 per cent. The ...
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Retail Sector India Welcomes Self- Service Technologies
The global economic downturn has opened up opportunities for self-service cash transaction and check-out kiosks at retail stores across the country. The self-service kiosk concept, a hit in markets such as the US, the UK and Japan, among others, enables retailers to deploy cashiers on the shop floor ...
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