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  • RBI makes it a dark Diwali for home buyers

    Jharna Mazumdar, Mumbai, Financial Chronicle

    October 25, 2011

    Rajeev Talwar, group ED, DLF said, “With another round of rate hike by the RBI, new home buyers will find it difficult to buy a property.” Talwar added that while end-user demand continues to be strong and the festive season response was good, he is uncertain about future demand.

  • Residential in, commercial out for real estate bigwigs

    Shubhra Tandon, Mumbai, The Financial Express

    October 24, 2011

    Lack of funds, customer aversion to striking advance lease deals and a slowdown in demand for office space have combined to push real estate developers into building more residential apartments than commercial spaces. “In the residential (market), you can pre-sell the space and customer advances can almost fully finance the actual construction,” Pirojsha Godrej, executive director, Godrej Properties, said in an interview. “But, in the commercial market, it is a difficult thing to do.”

  • Office space leasing falls 38% in July-Sept

    New Delhi, The Financial Express

    October 18, 2011

    The leasing of office spaces fell 38 percent in July-September at over 5 million sq ft in seven major Indian cities over the previous quarter due to the uncertain global economic environment, according to property consultant CB Richard Ellis (CBRE). According to CBRE’s latest report—India Office Market View Q3, 2011, the national capital region (NCR), Mumbai and Bangalore accounted for almost 80 percent of space absorbed.

  • Realtors seek PM intervention for single-window clearance

    Press Trust of India, New Delhi, Business Standard

    October 12, 2011

    In order to make property sector transparent and corruption-free, realtors' apex industry body the Confederation of Real Estate Developers' Associations of India (CREDAI) today sought Prime Minister's intervention for a single-window clearance for developing projects.

  • Metros' housing shortage seen at 1.3 mn

    New Delhi, The Financial Express

    October 04, 2011

    Housing supply is estimated to fall short of demand by 1.3 million units in seven major cities of the country during the next five years, according to a report by global property consultant Cushman & Wakefield. Cushman & Wakefield (C&W) has estimated a total demand of 2.3 million units of residential property in the next five years, while the estimated supply in the same period is expected to be approximately one million units, leaving a shortfall of over 1.3 million units.

  • Bank credit to NBFCs grows, moderates for realty sector

    New Delhi, The Financial Express

    October 01, 2011

    Bank credit to the commercial real estate sector (CRE) has seen some moderation in August while loans to non-banking finance companies (NBFCs) continue to grow at a robust pace. Bank lending to the CRE sector moderated to 15.8% y-o-y in August 2011 from 17.1% y-o-y in the previous month, data on sectoral credit released by RBI on Friday shows.