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CREDAI welcomes RBI announcement to cut repo rate

The Confederation of Real Estate Developers’ Associations of India (CREDAI) the apex body for private real estate developers in India welcomed the move by RBI to reduce the repo rates by 25 bps to 7.5%, the second rate cut within a span of 50 days. This is a favorable shift in stance from the RBI in view of the controlled inflation projection and a favorable business environment.

Buying plots in Manesar becomes easier!

With an increased supply of residential plots, Manesar offers an opportunity to investors and end-users alike. According to Mr. Gaurav Bahl, managing director, Real Estate Opportunities and Investments, “This is the right time for an investor to re-enter the market as due to the ample supply in the market, there is a higher chance of negotiations and getting a better bargain. As the year proceeds, prices are expected to rise again with improving buyer sentiments. Even an end-user may get a good deal now.”

Union Budget 2015: REITs listing set to become easy, with smoother investor-exits

The union budget for 2015-2016 has eased the path for listing of Real Estate Investment Trusts (REITs) in India by allowing pass-through of taxes for rental income and rationalizing capital gains tax for the sponsors of a REIT.

After green hurdle, stamp duty blow to Noida flat buyers

If the long wait for environmental clearance for their flats wasn't bad enough, nearly 30,000 homebuyers in Noida now face significant cost escalations when they register these properties.

Government says $5mn FDI in construction must come in 6 months of nod

Government on Friday said foreign companies investing in the construction sector will have to bring in a minimum of USD 5 million within six months of the date of approval of the building plan.

SBI to conduct auction of seized properties worth Rs 1,200 cr

In what has become the season for state-run auctions, the State Bank of India will on Saturday conduct one of its biggest auctions of seized properties worth Rs 1,200 crore across 26 Indian cities towards redeeming its bad debts.

Parsvnath to invest Rs 1,500cr to finish ongoing proj

Realty major Parsvnath Developers will invest about Rs 1,500 crore to complete over 30 ongoing projects in the next two and half years.

Parsvnath Dev up 11%, wins arbitration case against CHB

The Chandigarh Housing Board (CHB) has been directed to pay the company Rs 568 crore along with interests from January 9 (2015 till the day of payment) and return bank guarantees of Rs 75 crore. Earlier in 2006, the company had entered into a development agreement (DA) with CHB for development of residential, commercial and other related infrastructure facilities as an integrated project on land measuring 123.79 acres situated at Rajiv Gandhi Technology Park, Chandigarh. The company had paid Rs 516.23 crore as bid price towards the part consideration payable for the right to develop the project during the period from October 2006 to April 2008.

M3M India has announced the launch of M3M Polo Suites

M3M India has announced the launch of M3M Polo Suites in the heart of Gurgaon- Sector 65, Golf Course Extension Road. With the aim to create designer living in India, M3M brings limited edition(only 72 suites) of high class luxury suites, the Polo Suites, with an international look and feel.