Archive for the ‘Property’ Category:
Low interest rates on home loans may end soon
The special invitational or teaser rates for new home loans which were less than those offered to earlier customers are set to be withdrawn. This means a hike of up to 2% in interest rates offered by both private and public banks in the next one month.
Kumar Urban to raise 800 mn USD from pvt placements
Awaiting Sebi clearance for an initial public offer, the Pune-based realty firm Kumar Urban Development today said it is planning to raise up to USD 800 million through private equity placements in various special purpose vehicles (SPVs) next fiscal.
Indian Real Estate
The unstructured real estate industry, high home loan rates, forged land titles, the possibility of corruption, high taxes?
Nothing matters as the real estate market in India is getting hotter.
DAL to merge with DLF in cash-equity deal
Country’s largest real estate firm DLF is set to merge the real estate investment trust DLF Assets Ltd (DAL) into itself. The move is aimed at repaying some of DAL’s debt and bring the commercial properties under DLF to generate an annual income of around Rs 600 crore in the form of lease rentals from 2009-10. DAL currently earns around Rs 325 crore from lease rentals.
Delhi, Mumbai best for realty investment: PwC
In a survey titled Emerging Trends in Real Estate Asia Pacific released by Pricewaterhouse Coopers (PwC) and the Urban Land Institute (ULI) on Dec 8, Shanghai, Mumbai and New Delhi finished first, second and fourth in that order when it came to development prospects.
Mumbai and New Delhi along with Bangalore also figured in the list of cities which have good investment prospects – eighth, 10th and 14th respectively. Singapore scored higher in investment prospects, coming in fifth, while it took the 11th spot in development prospects.
The survey was done after a series of one-on-one interviews with people who move the real estate industry. Here’s a look at how the three Indian cities fared.
Rocky Road to Real Estate Riches
The flurry of real estate stock offerings set to hit the market starting Wednesday includes real estate developer Godrej Properties Ltd., a unit of Mumbai-based conglomerate Godrej Industries Ltd. Godrej plans to raise around 5 billion rupees ($107.3 million) in an initial public offering which closes on Dec 11. It is expected to be followed over the next few months by a number of others planning to raise more than 200 billion rupees, including Delhi-based Emaar MGF Land Ltd., Lodha Developers Ltd. of Mumbai, and Sahara Group’s Sahara Prime City Ltd.
ICICI slashes home loan rates to 8.25%
ICICI Bank has launched a home-loan scheme under which 8.25% interest rate will be fixed for the first two years. The floating rates will apply after 2 years. These rates will be applicable to loans sanctioned between December 2009 and January 2010. The clients will have to make sure that the first disbursement takes place before the end of March 2010.