Hindustan Construction Company (HCC) today said it has bagged two major contracts worth Rs 1,534 crore in various business segments including one in Jammu & Kashmir for construction of a tunnel.
The Secretary, Banking, Ministry of Finance has agreed to look into the problems being faced by the real estate industry and work towards reducing the cost of funding through banks and financial institutions.
Pointing out that real estate development can revive the sagging economy, developers’ apex body CREDAI has called for launching a mission to make India Housing Surplus from the current status of a housing deficit nation by 2020.
Sahara India today announced it would develop a new city near Dhaka called Notun Dhaka and has signed agreement with the Bangladesh government to invest in housing sector of neighbouring nation.
The Financial Stability Board (FSB) published the FSB Principles for Sound Residential Mortgage Underwriting Practices that aim to provide a framework for different countries to set minimum acceptable loan underwriting standards so as to limit the risks that mortgage markets pose to financial stability and to better safeguard borrowers and investors.
Land is scarce and the only way in urbanisation is to go up where more FSI/FAR would mean increasing the supply and bringing the price down, goes an old philosophy of the Indian developers. In reality, nearly all the high rises across the Indian cities are high-end luxury projects and seem to fulfil the aspirational needs of the Richie Rich.
Industry body NAREDCO admits that a lot is needed by the Finance Minister rather than just the tax exemption, which again was needed keeping in view the housing shortage which is one of the biggest challenge for the government of the day.
The world’s housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.
Mumbai-based infrastructure and real estate firm, Atlanta in consortium has bagged around Rs.10435.1mn order from NHAI, the flagship road building program of the Ministry of Transport and Highways.
DLF and The 3C Company are likely to sell their IT Park in Noida to Infrastructure Development Finance Company (IDFC) for about Rs.500 crore.