Real Estate

Tata Value Homes sells 85 houses worth Rs 40 cr on Snapdeal

Tata Value Homes sells 85 houses worth Rs 40 cr on SnapdealNew Delhi - Tata Value Homes, focused on affordable housing, has sold 85 houses worth Rs 40 crore in six days under its partnership with e-commerce major Snapdeal.

On August 28, Tata Value Homes launched an exclusive offer on Snapdeal, offering Rs 10,000 per month for a year as an assured rent (whether owners stay on premise or lease it out).

HC set asides allotment of 350 acres land to DLF in Gurgaon

HC set asides allotment of 350 acres land to DLF in GurgaonChandigarh - The Punjab and Haryana High court on Tuesday set aside Haryana government's decision to allot 350 acres of land at Wazirabad in Gurgaon to real estate developer DLF in 2010.

A division bench of the court, comprising Justice Surya Kant and Justice Amol Rattan Singh, directed Haryana government to conduct an auction of the land in question by inviting international bids within a month.

'Future of housing' may be skyscrapers containing entire cities

The-Endless-City-in-HeightLondon, August 28 : An architecture film is planning to build skyscrapers of the future which will house an entire city inside in London.

Speaking about the award-winning proposal by SURE Architecture, associate director Alina Valcarce said that the goal of the design is to conceive an open building that is effective as it is inviting and a powerful symbol in all directions while being permeated by generosity and openness, the Daily Star reported.

SC directs DLF to pay Rs 630 cr fine imposed by CCI

DLFNew Delhi : Real estate major DLF was on Wednesday directed by the Supreme Court to deposit Rs 630 crore fine slapped on it by the Competition Commission of India (CCI) for allegedly resorting to unfair business practices.

The apex court said the total ammount will be deposited within three months with its Registry pending the outcome of the appeal filed by DLF against May 19 order of Competition Appellate Tribunal's upholding the penalty of Rs 630 crore imposed by the CCI.

"We direct the appellant (DLF) to deposit the amount of Rs 630 crore in this court," a bench comprising justices Ranjana Prakash Desai and N V Ramana said in its interim order.

PNB launches housing loans at 10.25%

Punjab National BankNew Delhi - To increase business in the festival season, Punjab National Bank (PNB) Tuesday said housing loan of up to Rs 2 crore will attract 10.25 percent interest rate and also announced full waiver of processing fee and documentation charges on housing, car and two-wheeler loans.

Under the festival season bonanza offer for retail loans, housing loans of over Rs two crore will attract interest of 10.50 percent.

The festival bonanza, launched today, would contribute to the growth of GDP and with the onset of festival season, PNB said in a statement.

Now, buy affordable house online on Snapdeal

Snapdeal CEO Kunal BahlNew Delhi - Tata Value Homes, a real estate firm focussed on affordable housing, has partnered with e-commerce major Snapdeal to sell houses through the online marketplace model.

As part of the partnership, about 1,000 homes across projects in cities like Mumbai, Pune, Ahmedabad, Bangalore and Chennai will be put up for sale on Snapdeal. Ranging from 1 BHK to 3 BHK, the houses are priced between Rs 18-70 lakh.

Housing sales drop by 37% in NCR during Jan-June

Housing-sales-dropNew Delhi: Housing sales dropped by 37 percent in Delhi-NCR to nearly 28,500 units during the first six months of this year due to slowdown in the property market, real estate consultant Knight Frank said on Tuesday.

In the year-ago period, the National Capital Region (NCR) had witnessed sales of 45,300 housing units.

Launches of new homes in NCR fell by nearly 43 percent at 35,500 units during January-June 2014 as compared with the corresponding period of last year.

HDFC Fund raises $250 million for realty investments

HDFCfundNew Delhi: HDFC Property Fund, a part of financial sector conglomerate HDFC group, Friday announced the closure of USD 250 million international fund focused on investing in Indian real estate.

The fund-raising exercise has been concluded with investments from marquee international institutional investors and marks closure of HDFC's second international real estate fund, it said in a statement.

HDFC had raised an international fund of USD 800 million in 2007, which is fully deployed.

The recently closed fund will focus on investing primarily in residential property developments in major cities across India.

Parsvnath to explore raising foreign funds as govt eases rules

ParsvnathNew Delhi: Realty firm Parsvnath Developers will consider raising foreign funds in two commercial projects in the national capital that have now become FDI compliant after the government eased rules in the Budget.

At an investment of about Rs 600 crore, the company is developing a commercial project on KG Marg near Connaught Place and a shopping mall at Rohini here.

The company would also explore listing of about 12 Delhi Metro malls through Real Estate Investment Trusts (REITs) as tax sops offered in the Budget for this instrument have paved the way for its launch in the Indian market.

DLF shares slump on fresh CCI probe

DLFMumbai: Shares of realty major DLF turned weak today on the back of fair trade regulator CCI ordering a fresh probe against the company.

DLF stock was down nearly 2 per cent at Rs 215.20 at the BSE in late morning trade in an overall flat market, where the benchmark Sensex was almost unchanged at 25,367 points.

The Competition Commission of India (CCI) has ordered a probe against a DLF group company for allegedly imposing unfair and unreasonable conditions on office buyers at one of its commercial projects in Gurgaon.

DLF scrip rises 4.04 percent on healthy Q4 earnings

DLF scrip rises 4.04 percent on healthy Q4 earningsMumbai, May 30 : The scrip of India's real estate development major DLF gained 4.04 percent on back of healthy earnings in the fourth quarter of the last fiscal ended March 31.

In the initial trading hours at the Bombay Stock Exchange (BSE) the company's stocks gained as much as 4.04 percent at Rs. 212 from its previous close of Rs. 203.75.

The scrip's gain stood at 1.94 percent or 3.95 points at Rs. 207.70 around 2.00 p. m.

North India's tallest residential tower in Noida

Brys-GroupNoida, May 24 : Real estate player Brys Group plans to invest Rs. 900 crore-Rs. 1,000 crore over the next four years in a project that will be north India's tallest residential tower, Rahul Gaur, chairman-cum- managing director of the company, said here Saturday.

“We will invest around Rs. 900 crore-Rs 1,000 crore and the project will be completed by 2018. We are financing the project with both bank and our finance,” he said.

Located in Noida, Sector 150, the residential tower named "Brys Buzz", will be 81-storeyed with 111 elevators and a helipad on the top of the building.

DLF leases 3 million sq ft office space in 2013-14

DLF leases 3 million sq ft office space in 2013-14New Delhi, April 23 : India's largest real estate developer DLF Wednesday said it leased out three million sq ft of office space in the financial year ended March 31, 2014. More than half of it is in Gurgaon.

Of the three million sq ft it leased out, a record 1.7 million sq ft has been leased out in Gurgaon alone, the company said in a statement.

“This has been achieved despite intense competition in the office leasing space and a subdued economic environment,” it said.

The lease rentals witnessed stable to healthy increases in various micro markets.

Dubai faces 500,000 construction workers' shortage

Dubai faces 500,000 construction workers' shortageDubai, April 20 - With the real estate sector in the Gulf Arab emirate Dubai showing no let-up in expanding, the construction sector here is all set to witness a shortage of 500,000 workers by 2015, a media report said here Saturday.

China's home price growth decelerates

China's home price growth deceleratesBeijing, April 18 - Home prices in major Chinese cities grew at a slower pace in March, with fewer cities reporting month-on-month price gains, authorities said Friday.

The National Bureau of Statistics (NBS) said out of a statistical pool of 70 major Chinese cities, 56 saw month-on-month gains in new home prices last month, down from 57 in February, reported Xinhua.

For existing homes, prices increased in 42 cities in March, also down from 46 in the previous month, the data showed.

NZ records fall in house sales

NZ records fall in house salesAccording to the latest figures released, the total housing sale has fellen in New Zealand market.

The data also showed that the median price of homes are increasing in the country. The Real Estate Institute of New Zealand said that the sale of houses in the Western Bay fell during the month of March.

Figures showed that Tauranga housing sales fell 21 per cent to 127 from 163 a year ago. However, the median price increased 11.8 per cent to $388,000 from $347,000. The sales in Mount Maunganui-Papamoa fell 17.9 per cent from 123 to 101 and the median prices increased 5.9 per cent to $450,000 from $425,000.

New Zealand housing prices fall in March

New Zealand housing prices fall in MarchAccording to the latest figures released, the housing prices in New Zealand have continued to fall in the month of March as the buyers are discouraged due to restrictions on lending and rising interest rates.

The housing prices have been falling in the country since previous five straight months as the demand is affected by economic factors. The government's Quotable Value's (QV) said that the demand for housing has been affected by increasing interest rates and the limitations on bank lending in the country.

Cable says houses are unfordable to middle earners

Cable says houses are unfordable to middle earnersVince Cable, UK's Business Secretary has warned that the housing prices are high in the UK and houses are unaffordable for the middle earners in the country.

Cable has said that ordinary families will not be able to buy the houses in the country as the market faces risk of a housing market 'bubble'.

Canadian mortgage rates fall under 3%

Canadian mortgage rates fall under 3%According to the latest figures released, the Canadian mortgage rates have fallen below the rate of 3 per cent. Bank of Montreal lowered its five-year fixed-rate mortgage to 2.99 per cent from 3.49 per cent.

The lower retail rates will help buyers in the country but will increase difficulties for finance officials as the housing market begins its spring sale season. The Bank of Montreal has announced its decision to lower the interest rates but market experts said that it might be enough to revive the sluggish housing market as other factors including provincial elections in Quebec might affect the market.

Godrej announces JV to develop residential project in Pune

Godrej announces JV to develop residential project in Pune Godrej Properties Ltd., the real estate development division of the Godrej Group, has signed a deal with Oxford Group and Ekta World to develop a residential project in Mundhwa, Pune.

The Mumbai-based real estate developer said that the joint venture (JV) residential project, spread over 43 acres, will offer premium one, two, three and four BHK apartments.



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