Commenting on the rate cut, India's largest realty firm DLF's CEO Rajeev Talwar said: "Very good announcement by RBI. Have left the job to the Finance Ministry to now convince the banks to lower their base rate."
Commenting on the results, Godrej Industries Chairman A B Godrej said: "Despite volatile market conditions, Godrej Agrovet had a steady quarter."
It had a net profit of Rs 77.70 crore in the same quarter of the last fiscal. Godrej Industries' total income from operations on consolidated basis was up 7.93 percent to Rs 2,510.67 crore as against Rs 2,326.17 crore in the same period last fiscal, the company said in a BSE filing.
Its total income from operations, however, rose to Rs 160 crore in the first quarter of 2015-16 from Rs 96.34 crore in the year-ago period.
The sharp drop in HDFC‘s standalone profit growth to 1.2 percent in the first quarter of 2015-16 (ended June) is less a comment on the housing finance pioneer‘s lack of performance than an indicator of the sorry state of India‘s economy and its real estate sector.
US-based kitchen and bathroom major Kohler is looking to expand its base to 100 cities in the country by the end of this year, a strategy aimed at minimising the impact of slowdown in the real-estate sector.
At present, the Indian elevator and escalator market stands at around 50,000 units per year, which is anticipated to see a double digit growth mainly on the back of improved sentiment in the real estate sector, company's President and CEO Henrik Ehrnrooth said.
The Mumbai Metropolitan Region Development Authority (MMRDA) has put on block TDR on three plots in Goregaon and Jogeshwari. This includes area of 10,574.76 sq mt of Nirlon Park and 9,970.49 sq mt of NESCO, both in Goregaon and 9,454.75 sq mt of Ajgaonkar plot in Jogeshwari.
"This is a welcome step taken by the Union Government. This decision will work as a milestone in Indian housing sector. Every stakeholder of the industry would get benefited by this step," Industry body CREDAI NCR President Manoj Gaur said in a statement.
News Corp had first acquired a 25 percent stake in Elara in November 2014 for about USD 30 million. PropTiger has since acquired digital design startup- Out of Box Interaction (OoBI) - as well as adding property search portal Makaan.com to its industry-leading portfolio of offerings and capabilities.
The country's largest real estate firm achieved gross sales bookings of Rs 3,850 crore in 2014-15 fiscal, down 5 percent from Rs 4,070 crore achieved in the previous year.
Facing number crunch in Rajya Sabha, the government was forced to defer the bill on April 29 after opposition insisted on referring it to Select Committee of Parliament.
Rahul Gandhi met home-buyers at the Congress headquarters on Saturday and assured them of his support against the Bill proposed by the Narendra Modi government. The Bill allegedly dilutes penalties for late delivery of homes and does not safeguard against money being diverted from one project to another.
For buyers scalded by huge, unaffordable price increases in the last few years, it is best to let the industry stew in its own juice for now. The real estate sector is up the creek without a paddle. Builder inventories in metros like Mumbai and Delhi (NCR) are at new highs as few people are buying.
The decision by Prime Minister Narendra Modi's government to amend the bill, which was submitted by the previous government in 2013 but not passed by the upper house, aims to boost investor confidence and stamp out illegal practices.
Under the proposed Law, one or more Regulatory Authorities will be set up in each State/UT or one Authority for two or more States/UT by the concerned governments for oversight of real estate transactions.
Motilal Oswal has come out with its report on real estate sector. The research firm prefers players with a growing and quality annuity vertical like Prestige Estates, Brigade Enterprises and Oberoi Realty, given strong operational recovery.
By 1994-95, real estate prices in the city increased to a point where companies started to look for cheaper alternative locations, paving the way for other cities to grow commercially. Demand for both commercial and residential real estate gathered steam.
2014 seems to have brought fresh hope for the real estate sector in terms of fund flows. In the last two months, several private equity funds have together invested over USD 700 million in real estate projects.
It is very difficult to forecast anything in India as the real estate market is not subject to a fixed pattern. A great degree of political uncertainty, liquidity issues, high interest rates and cautious sentiments are expected to underpin the real estate sector in 2014 too.
Monetary tightening resulting from RBI‘s measures to control inflation was the major macro influence on the real estate business in India, through most part of the year.
Lalit Kumar Jain, Chairman, CREDAI says in Mumbai alone, there was a 40 percent drop in projects that applied for approvals during the first nine months of 2013.
Real estate sector may be seeing some trouble as foreign investors are being cautious of the sector. The area is seeing an exodus from private equity players and is forcing entities to raise money via different routes.
Shobhit Agarwal of Jones Lang LaSalle India explains about the need to introduce foreign direct investment in the real estate sector. He cites the rise in input and developmental costs as few of the reasons for the same.
The real estate sector, which has not yet showed any sign of revival is lacking transparency. The authorities need to pull up their socks through a slew of reform measures like fast-paced approval process, Land Acquisition Act and the real estate regulator, HDFC chairman Deepak Parekh said in the annual report of the company.