Mumbai-based Phoenix Mills is planning expansion pan India by setting up shopping malls 'Phoenix Market City' in the major cities like Mumbai, Bangalore and Chennai by March 2012.
Recently, Phoenix Market City has opened in Pune. Project's total investment Rs …
Tamil Nadu second highest in housing shortage in India
Tamil Nadu is among the worst states when it comes to housing, a study by the Union housing ministry has found. About 11% of total housing shortage in India, is in Tamil Nadu, which is only a notch below Maharashtra when it comes to low housing stock. Most of peoples live …
Bank credit to Indian real estate sector rises 25% in 2010-11, RBI concerns
Bank credit to Indian real Estate sector has gone up 24.6% for the financial year ended March 2011, higher than the overall credit growth reported by banks at 22.6% .Real Estate was one of the highest sectoral exposures by banks after infrastructure.
India real estate lo…
Teaser loans gone: SBI home loans plunge 28%
The discontinuation of SBI’s (State Bank of India) Teaser loans (namely Easy Home Loan and Advantage Home Loan scheme) has impacted growth in the bank’s home loans segment. In April growth in the bank’s loan book was about Rs 1,000 crore, down 28% from the Rs 1,400 crore av…
ASK Property Domestic Realty Fund
ASK Property Investment Advisors raises Rs. 520 crore for domestic realty fund
ASK Property Investment Advisors has raised Rs 520 crore for a domestic realty fund, becoming the first fund among half-a-dozen such realty PE funds waiting in line, to raise money from rich inv…
Major of households Mumbai, can't afford to buy a flat
Nearly 60% of the Mumbai city households earn less than Rs 80,000 annually, and the income of 19 per cent of those at the bottom of the pyramid is so low that they cannot afford to buy a house. This was revealed by a CII and Jones Lang Lasalle report on the real estate sec…
Haryana Governor supports direct purchase of land by investors
Haryana Governor Mr. Jagannath Pahadia supported the West Bengal government’s decision to let investors purchase land directly from land-owners instead of the government acquiring land on their behalf.
Mr. Jagannath Pahadia Said, “I am not thorough about chief minister Ma…
Chinese govt. planned to build 3.6 crore affordable housing
Chinese real estate developers kept their distance from repeated appeals by officials to accelerate the country's affordable housing construction. About 30 out of 100 housing developers had participated in the affordable housing construction from 2007 to 2010. Chinese …
Indian Real Estate Regulation Bill may be further delayed
The proposed Inidian Real Estate Regulation Bill may be further delayed. The ministry of housing and poverty alleviation, which was set to table the draft bill during the Monsoon session of Parliament, is yet to get the law ministry’s opinion on it. The draft Bill was sent…
Demand for Indian home loans set to dip
In the current 2011, as the indian housing market in the West slowly picks up, the Indian market may be in for slack. SBI ( State bank of India) withdrew its home loan scheme with effect from 2011, May, after RBI ( Reserve Bank of India ) raised concerns on the borrowers&…
