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  • C&W report predicts rapid growth in AP

    The Hindu Business Line, Hyderabad

    March 31, 2011

    Considering the growth potential in the industrial and services sector, the real estate in the State and Hyderabad in particular are projected to see a compounded annual growth rate of 13 per cent over the next few years with a cumulative demand of about 18.5 million square feet, according to a report released on Thursday .

  • 1.6 million new jobs to be created this year: Ma Foi

    S Shyamala, Chennai , Financial Chronicle

    March 31, 2011

    The organised sector in India is set to create about 16 lakh jobs this year, according to the Ma Foi Randstad Employment Trends Survey released on Thursday. The top three recruiters — healthcare, hospitality and manufacturing alone are estimated to create about seven lakh jobs this year.

  • Realty sector to see oversupply in 2012-13

    Shalini Nair The Indian Express

    March 29, 2011

    Mumbai's residential market is predicted to witness a glut in 2012-13 owing to steady new launches at a time when sales are extremely slow, according to real estate consultancy Jones Lang LaSalle. “The overall sentiments of the market and the consistent rate of new project launches in Mumbai give a clear indication of an impending oversupply by 2012. A lot of developers in the most severely affected locations are currently open to closing sales at lower rates,” said a note by JLL.

  • Mumbai realty robust despite small fall in flat sales in Feb

    The Hindu Business Line | Business Standard | Financial Chronicle | The Economic Times , Mumbai

    March 28, 2011

    Mumbai’s real estate market continues to be robust despite a minor blip in February when flat sales clocked a 2.40 percent decline, a leading industry body said. The city reported a marginal decline in flat registrations at 16,341 in February as against 16,743 registrations in the year-ago period, data from the Maharashtra Chamber of Housing Industry (MCHI) showed. “There has been no sharp decline in Mumbai’s real estate market - there has only been a marginal decline in sales figures of residential apartments,” MCHI said in a statement here.

  • Mumbai witnesses fall in real estate sales registrations

    The Financial Express , Mumbai

    March 21, 2011

    It’s been a weak start to the year for the Mumbai real estate market with the number of property sales registered in India’s financial capital continuing to fall for the second consecutive month. The downtrend in sales volumes for the month of February is similar to that seen in January. Sales registrations at 4,716 are down 22% year-on-year and 7% month-on-month, according to a study by Prabhudas Lilladher, which points out that even after adjusting for the fewer days in February, the numbers would be more or less similar to those seen last month.

  • 40 SEZ developers seeks more time to implement projects

    The Economic Times | The Hindu Business Line | Business Standard | The Telegraph | The Asian Age | Mint | Financial Chronicle , New delhi

    March 17, 2011

    Reflecting lack of enthusiasm for the special economic zones, over 40 developers including Parsvnath SEZ Ltd and Ranbaxy Laboratories have sought more time from the government for implementing their projects. Reliance Haryana SEZ Ltd has also requested for additional time from the Board of Approval (BoA), headed by Commerce Secretary Rahul Khullar, the BoA agenda said.

  • Three PE Funds set to invest 1,440 crore in GMR Airport

    Manisha Singhal & Sobia Khan, Mumbai/Bangalore The Economic Times

    March 10, 2011

    Three private equity funds will invest close to 1,500 crore in an unlisted company of GMR Group, which runs the Delhi and Hyderabad airports. Two of the funds are SBIMacquarie, a joint venture between India’s largest bank and the Australian investment bank, and the PE arm of Standard Chartered PLC, said people familiar with the transaction. The third is the PE arm of a south Indian bank, they said, declining to identify it. They spoke on condition of anonymity because the transaction was at a sensitive stage.

  • IT Major to pump in over $500 M to ramp up India operations

    The Hindu Business Line The Financial Express The Statesman Deccan Herald The Economic Times The Hindu The Asian Age The Times of India Mint , Chennai

    March 08, 2011

    Cognizant Technology Solutions, the US-based provider of information technology, consulting, and business process outsourcing services, will invest in India over $500 million through the end of 2014. This is to expand its owned campus footprint with the addition of over eight million sq ft to help the company accommodate nearly 55,000 employees, according to a company press release.

  • Real estate redefinition to hit FDI

    Deepshikha Sikarwar & Paramita Chatterjee, New Delhi, The Economic Times

    March 07, 2011

    The government plans to widen the definition of real estate in its foreign direct investment (FDI) policy to include consultants, advisers, valuers and brokers, a move experts say could restrict entry of foreign players in these specialized services. The department of industrial policy and promotion, or DIPP, has circulated a draft note for comments of various ministries on the proposal.

  • Metro home prices take a dip on tighter liquidity

    Vishakha Talreja, The Financial Express

    March 05, 2011

    The vision of owning a house is slowly getting clearer for buyers as residential real estate prices are beginning to see the promised correction on the back of hardening interest rates and poor transaction volumes.

  • Developer bought Wadala land for Rs 4,050 crore

    Zeeshan Shaikh, Hindustan Times, Mumbai

    March 05, 2011

    The Mumbai Metropolitan Region Development Authority (MMRDA) had hoped that the Metro work would be completed by December 2010 and hence sold the six-hectare Wadala plot used by Mumbai Metro One Pvt Ltd (MMOPL) for the purpose, to a private builder for Rs4,050 crore. However, work on the Metro has b een hit by repeated delays and civil work is not expected to be completed before the year-end.

  • Realty funds find it tough to raise money overseas

    March 04, 2011

    Half-a-dozen funds have been scouting abroad for about a year to raise up to `3,000 crore each Real estate funds trying to raise a couple of billion dollars overseas are struggling to tie up commitments, with potential investors put off both by integrity worries over India’s realty sector and still-depressed property markets abroad.

  • Oversupply in mall space to benefit retail companies: Crisil

    The Hindu Business Line, Mumbai

    March 03, 2011

    Mall rentals are bound to remain stagnant with 242 malls set to come in 10 major cities that have 255 malls in operation.

  • Government eyes Rs 15k crore via MAT on SEZs

    Times of India

    March 02, 2011

    NEW DELHI: The government hopes to plug a potential revenue loss of Rs 15,000 crore by levying minimum alternate tax on developers of special economic zones and units that are located in these enclaves.

  • MAT levels field for IT parks

    The Financial Express

    March 01, 2011

    Businesses and individuals got some unexpected tax breaks from finance minister Pranab Mukherjee's Union Budget for 2011-12 fiscal, which also facilitated a level playing field to software technology parks that compete with big IT SEZ developers and units.

  • Budget raises home loan limit, SEZs come under MAT of 18.5 percent

    The Financial Express

    March 01, 2011

    The Urban middle income housing consumers, who have been reeling under the pressure of spiraling prices, seem to have been left out of any meaningful benefit in the Budget 2011-12, industry players feel.