Track2Realty: DTZ has brokered the sale of US Consulate’s Washington House in Alta Mount Road in South Mumbai to Lodha Developers at the rate of approximately Rs. 140,000 per sq meter or USD 28,000 per sq meter.
The real estate industry today expressed hope that a part of Rs 17,000-crore worth liquidity infused by RBI into the financial system would flow into the realty sector.
No end to the global housing market downturn is in sight, except probably in the US, according to a survey of global house price trends by the Global Property Guide Asia is weakening, and house price falls in the worst-hit European crisis countries are dramatically accelerating.
SRG Housing Finance Limited, a growing housing finance company with registered office atUdaipur in Rajasthan, proposes to enter the capital markets on 22nd August 2012 with a public issue of 35,04,000 of Rs 10 each. The Issue price for this IPO to be listed on SME platform of BSE has been fixed at Rs 20 per equity share of Rs 10 each. The Issue closes on 24th August 2012.
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.
The Finance Ministry is building safeguards to ensure realty companies do not misuse the external commercial borrowing (ECB) window announced in the Budget by diverting the money.
Kruti Jain: I believe any funding available in real estate is gap funding. It is not about only the gap which is there in funding for real estate because what happens for other industries is that they have this reserve capital which is not their land or raw material, but is the actual capital they put in to manufacture xyz product and then they replenish the funds with whatever returns are accrued.
Real estate developers today expressed disappointment over the RBI’s decision to keep key policy rates unchanged and sought a cut in interest rate to boost housing demand.
The real estate sector has welcomed the CRR rate cut by the RBI and said it will help revive demand in the housing segment.
Will 2011 carry forward gloom in the realty market? That is the question on everybody’s lips today and the sector seems to be only praying that the worst has been left behind in 2011.