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'Market meltdown has hit realty firms'
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13-May-2008/5:24:06 PM
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EMAARMGF, a joint venture between Dubai-based Emaar Properties and Delhi-based MGF, became a victim of the global credit crisis in February when it had to withdraw its Rs. 7,000-crore IPO, country’s third-largest, due to peer investor response. The company has moved on since then. Sharavan Gupta, managing di¬rector Emmar MGF, now says the company will revisit the capital market once the current credit crisis ebbs, and possibly with a larger offer. He says Emmar MGF is on course to gel private eq....... |
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Chandigarh plans for intelligent buildings
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12-May-2008/2:51:13 PM
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New technology'll help building treat own waste
IN THE two new buildings to come up adjoining the existing set of UT Administration office buildings, the city administration wants to have the most intelligent buildings in India, that may complex to DLF Parsvnath, which extensively use glass 'and chrome.
One of them would be a six-storey building housing the swelling number of UT govern¬ment officials and de¬partments that are cur¬rently placed outside the main building. An¬other seven-sto....... |
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Sub-30Lhome loans cheaper
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12-May-2008/2:50:16 PM
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INTEREST RATES on home loans between Rs. 20-30 lakh arc set to soften, bankers said after meeting the FM , it-ports Our Bureau. Thanks to lower provisioning needs for home loans up to Rs 30 lakh, as an¬nounced by RBI in its policy, bankers said the benefit will be extended to new customers and existing ones who are on floating rate. RBI has reduced the risk weight—the amount of capital to be set aside for a LOAN—on home loans above Rs 20 lakh and up to Rs 30 lakh to 50% from 100%.
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Citi realty arm to buy 10% stake in Golden Gate for Rs. 400 Crore
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17-April-2008/3:23:27 PM
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CITlGROUP's real estate arm is set to invest around Rs. 400 Crore (100 million) in Bangalore-head quartered Golden Gate Properties for about 10% slake, sources said. The deal is expected to value the tier-II real estate firm ala little over SI billion. This marks Citi-group s back-to-hack deals in the domestic real estate space in the last fortnight. Early last week, the global financial giant unveiled $160 million play in Delhi-based BPTP.
Golden Gate is primarily into residential marke....... |
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Fund raising becomes costlier for realty cos
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17-April-2008/3:22:21 PM
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RAISING funds is becoming increasingly costlier for real estate players, as private equity players try and extract their own pound of flesh given the poor market conditions, says DLP chairman K P Singh.
The cost of raising funds has gone up from what it was six months ago." K P Singh told ET. adding that real estate firms faced a tight situation. Several real estate firms, including DLF, Unitech, Indiabulls and Omaxe, have put oil their plans to raise funds through capital market due lo a globa....... |
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MLD to invest $4.5 b in residential projects
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17-April-2008/3:21:12 PM
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Mahindra Lifespace Developers (MLD), the real estate arm of $4.5-billion Mahindra Group, would invest close to Rs 800 Crore in its six upcoming residential projects in Mumbai, Pune, Chennai, Delhi and NCR over the next 2-3 years, reports Pramugdha Mamgain from New Delhi. With the launch of its residential project in Faridabad recently, the company entered the real estate market of North India. The real estate firm is targeting a turnover of Rs 1.000 Crore in the next five years against Rs 163 Cr....... |
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Realty creaks under high mortgage rates
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17-April-2008/2:38:48 PM
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TBANSACTTON volumes in real estate have slowed markedly over the last six months, particularly for the residential segment, with affordability on the decline following sustained high mortgage rates.
According to Citigroup, channel checks with property brokers, suggest that volumes are down 40-50%, This is backed by mortgage portfolio of most hanks showing a slowdown in growth. • With pre-sales drying up, developers are likely to push back the launch of new projects and change the mix of resi....... |
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TIMES OF INDIA
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Housing crisis in US leads to a worldwide slowdown
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15-April-2008/12:47:27 PM
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Major Markets Including India, China, Hong Kong See Price Erosion, Analysts Expect More Defaults
The collapse or the housing bubble in the United Slates is mutating into a global phenomenon, with real estate prices swooning from the Irish countryside and the Spanish coast to Baltic seaports and even parts of northern India. This synchronized global slowdown, which has become increasingly stark in recent months, is hobbling economic growth worldwide, affecting not just homes but jobs as well....... |
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NYT NEWS SERVICE
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Casino set to roll retail dice with Parsvnath
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15-April-2008/12:46:28 PM
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Tie-up to Be Modelled On Bharti-Wal-Mart Deal
FRANCE'S $40-billiin retailer Groupe Casino is learnt to be close to inking a Bharti-Wal-Mart type alliance with Delhi-based real estate player Parsvnath Developers for retail operations in India. The deal is likely be signed in two weeks, said a source. Parsvnath Developers chairman Pradeep Jain declined comment on the development.
Parsvnath may have no retail pedigree, but its realty strength seems to have been a lure for Casino. The compan....... |
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Times Group.
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Realty grim as cash cracks begin to show
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10-April-2008/4:41:48 PM
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Cos Borrow At 19-20% to Hang In
INDIA'S booming real estate story is finally showing signs of disquiet, in a throwback to the scary 1990s when the inter-corporate deposit (ICD) market's high interest rates saw companies borrowing at huge costs to tide over a rash crunch. Then, these desperate borrowers often ended up losing their businesses to bigger players and loan sharks. In what could be the onset of another turmoil, real estate developers, particularly less credit-worthy ones, are t....... |
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Economic Times
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Storefront For Art and Architecture 25th Anniversary Benefit
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5-April-2008/5:45:30 PM
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Honoring
Kyong Park (Founder)
Shirin Neshat (Co-director, 1989-98)
Proceeds will help support Storefront's diverse public Photographs
April 29 2008
A gala event honoring Kyong Park and Shirin Neshat
to be held at the New Diane Von Furstenberg Studio
designed by Work Architecture Company.
440 West 14th Street, New York, NY 1001
TICKETS
Storefront Circle $10,000 10 tickets
Storefront Council $5,000 5 tickets
Benefactor $2,500 5 tickets
Patron $1,000 2 tickets ....... |
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http://www.storefrontnews.org
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URBAN CHANGES
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5-April-2008/5:18:00 PM
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Inauguration on Monday, April 7, 6.30 pm onwards
Photographer BAPTIST COELHO (Mumbai) and Indian Architect ROMI KHOSLA would be present at the Opening for a Discussion on "Art and Urban Changes" at
Siddhartha Hall, Goethe-Institut / Max Mueller Bhavan
3. Kasturba Gandhi Marg, New Delhi
On View: April 8 - April 15 & April 20, 2008
Opening Hours: 10 am - 7 pm
Free entry
For further information please visit http://www.goethe.de
or contact at 011 - 23329506 ext 292....... |
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http://www.goethe.de
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The Art and Design Show
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26-March-2008/7:31:35 PM
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AN OGAAN PUBLICATION EVENT
IN ASSOCIATION WITH
THE OBEROI-MUMBAI
29th -30th March 2008
Hilton Tower Mumbai 10 AM to 8 PM
The Highlights
Show Home-Space allocation by Sabdeep Khosla
Chair Gallery Trend Pavilion
ELLE Decor Art Lounge
An interactive Workshop " Working the work"
More information or Registration contact at
artanddesignshow@ogaan.co.in....... |
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http://www.ogaan.co.in
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Blackstone eyes housing for single geeks
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26-March-2008/12:02:42 PM
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Plans To Invest Rs. 400 Cr. for Stake in Bangalore-Based Developer Woodstock
BLACKSTONE is likely to com¬mit big money into a nation¬wide network of residential campuses for 'industry singles'. The private equity giant is in substantive discussions to invest $100 million (about Rs 400 crore) for taking a major stake in Bangalore -headquartered Woodstock Ambience, a community lifestyle developer targeting the single working professional in the ITeS and BPO sectors, informed sources said.
It i....... |
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LEHMAN-DEUTSCHE TANGO
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26-March-2008/12:01:13 PM
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Global I-banks to invest $500m in Unitech SPY
PRIVATE equity players Lehman Brothers and Deutsche Bank are set to make a com¬bined' investment of $500 million in an SPY floated by India's second most-valued real es¬tate developer Unitech. according to a person close to the development.
The two PE players are learnt to be in 'advanced talks with Unitech to pick up a mi¬nority stake In the SPV formed to execute two commercial projects in Mumbai. The projects, located in Santa Cruz, are likely to....... |
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Slowdown shadow on realty advance tax
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24-March-2008/10:02:12 AM
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REAL estate companies have begun to feel the pinch of sluggishness in the sector, ii seems. Advance tax payments by some key realty players in March are lower than pay¬ments made in previous quarters.
Unitech paid Rs 133.07 crore for the la« quar¬tet, 59.685% lower than Rs. 330 crore it paid for the corresponding quarter of the previous fiscal. ThecorapanypaidRs275croreduring 2007-08 compared with Rs 367 crore in 06-07. Unitech general manager R Nagraju said the company had an extraordinary inc....... |
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Property Pangs: MMRDA auction bids signal realty correction ahead
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24-March-2008/10:01:18 AM
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THE Mumbai Metropolitan Region Development Authority (MMRDA) on Tuesday auctioned three plots in city's Bandra-Kurla Complex (SKC) for Rs 1.322 crore. It's a far cry from the Rs. 2.790 crore the authority earned just three months ago for a similar transaction, con¬firming what every real estate player has dreaded solar—The slowdown in Mumbai's property market is finally real.
The stump in tin* real estate market is also being attributed in the turbulence in the equities market and a slowdown in....... |
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GMR plans Rs. 3,300-cr realty foray in Hyderabad
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21-March-2008/2:20:40 PM
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Seeks Govt. Permission to Develop 60 Acres at Old Airport
THE GMR Group—known for its infra¬structure businesses — may soon be¬come a huge player in the real estate sector as well, diversifying into the sector with a Rs. 3,300-crore deal. The group, which has built the new airport at Hyderabad, has sought government's permission to develop 60 acres available at the old airport, located in the heart of the southern city.
The old airport occupies about 790 acres out of which 60 acres could becom....... |
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CHD Developers plan retirement townships
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21-March-2008/2:19:37 PM
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REAL estate firm CHD Developers will be coining up with multiple re¬tirement township projects in the four cities — Kamal. Rishikesh,* Mathura and Neemrana. The developer will make a total investment of Rs 275 crore in the project. The company has floated a special purpose ve¬hicle (SPV), CHD Retirement Homes, for these projects.
While Rishikesh would be the most expensive with houses in the range of Rs 50-55 lakh, the cheapest would be those in Mathura priced at Rs 10 lakh, Says CHD Developer....... |
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Real estate unraveled
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18-March-2008/5:11:27 PM
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While insisting on the need for a real estate sector regulator, Mukesh Kacker wonders whether the State has unintentionally contributed to super-normal windfalls for developers
THE pejorative use of the term 'Washington Consensus' by the critics of globalization notwith¬standing, the debate between them and the protagonists of globalization and liberalization seems largely to have been settled in favour of the latter. It has also been accepted, albeit a bit grudgingly, that the initial gains fr....... |
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Daughter Infrastructure Consultancy Services
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