Real Estate

Only Northern Ireland saw rise in house purchase loans: CML

Only Northern Ireland saw rise in house purchase loans: CML

Northern Ireland was the only region of the United Kingdom that reported a rise in house purchase loans in the final three months of the last year, according to figures released by the Council of Mortgage Lenders (CML) Northern Ireland.

The CML said that the number of mortgage loans increased by 4 per cent in the quarter ended December 31, 2011 from the corresponding period of the previous year.

A total of 2,500 mortgage loans, worth 240 million pounds, were issued in the three-month period.

A 3-bed bungalow becomes something of talking point

A 3-bed bungalow becomes something of talking point

A three-bedroom bungalow in close proximity to Llanddona on the island of Anglesey in north Wales has become something of talking point due to its location and the over-optimistic nature of the estate agents' house details.

Estate agents Williams and Goodwin describes of property as an excellent detached bungalow, located in an exceptional elevated position with open countryside and superb coastal views.

British Land suffers 0.4% drop in its retail assets’ value

British Land suffers 0.4% drop in its retail assets’ value

British Land, one of the biggest property developers in the UK, has suffered a slight decline in the value of its retail assets.

British Land, which is the second-largest real estate investment trust by market value in the country, said the value of its portfolio of shopping centres and warehouses dropped 0.4 per cent in the final quarter of last year.

The drop was led by a 0.6 per cent fall in the property developer’s £2.7 billion retail warehouse portfolio.

British Land’s retail assets account for nearly 61 per cent of its total £10.28 billion property portfolio.

Godrej Properties raises Rs 45 cr by selling 49% stake in Gurgaon project

Godrej Properties raises Rs 45 cr by selling 49% stake in Gurgaon project

Godrej Properties Ltd has sold 49 per cent stake in its subsidiary Godrej Premium Builders to private equity firm Sun-Apollo India Real Estate Fund for Rs 45 crore, the Mumbai-headquartered real estate arm of Godrej Group confirmed.

Godrej Premium Builders is developing a project at sector 104 in Gurgaon, Haryana, called Manesar Urban Complex. It is the firm's second project in Gurgaon. Previously in 2010, the firm launched its first project, called Godrej Frontier, in sector-80 of Gurgaon.

DLF acquires Hilton's 26% stake in hotel JV

DLF acquires Hilton's 26% stake in hotel JV

Real estate giant DLF Ltd increased its stake in the joint venture 'DLF Hotels & Hospitality' to 100 per cent by acquiring the remaining 26 per cent stake from its partner Hilton International Co.

In a filing with the Bombay Stock Exchange (BSE), DLF stated that it has acquired the remaining 26 per cent equity shares of the joint venture from Hilton International Co's affiliates Aro Participation Ltd and Splendid Property Co Ltd for Rs 120 crore.

LIC Housing Finance Q2 net profit plunges 58%

LIC Housing Finance Q2 net profit plunges 58%The net profit of LIC Housing Finance plunged nearly 58 percent in the second quarter chiefly because of an additional provision of Rs 205 crore associated with provisions on standard assets that the mortgage company made during the quarter in accordance with a directive National Housing Bank (NHB) had issued.

DLF gets I-T notices for Rs 1703 crore

DLF gets I-T notices for Rs 1703 croreDLF has disputed the orders of the income tax authorities and placed them before the higher authorities claiming that the former have imposed on it increased taxes worth Rs. 1,700 crore apart from the actual taxes that it is liable to pay for the financial year of 2008 and 2009.

Prestige Q4 net at Rs 70.15 cr

Prestige Q4 net at Rs 70.15 crPrestige Estates Projects, Bangalore based real estate Company’s net profit for the Q4 ended March 31 is recorded at Rs 70.15 crore and for the same period, it posted its revenue as Rs 456.46 crore.

This year, company posted a 28.74% increase in its consolidated net profit of Rs 166.66 crore as compared to last year’s net profit.

Company’s sales increased by 50.62% to Rs 1,543.11 crore, as compared to Rs 1,024.44 crore a year ago.

Arvind join hands with Tata Housing for equal joint venture

Arvind join hands with Tata Housing for equal joint ventureTata Housing Development Co. Ltd. along with textile major Arvind Ltd has created a kind of equal joint venture for developing a township project situated on a land measuring 134 acres close to Ahmedabad.

Future ventures make a debut at discount

Future ventures make a debut at discountIt has been announced today that Future Group led by Kishore Biyani will debut its subsidiary Future Ventures in India with IPO. Initially the company has fixed its issue price in the range of Rs 10-11 a share. But the stocks were opened at Rs 9 and received a halfhearted response.

Through the issue of 75 crore equity shares the company will collect Rs 750 crore. Future Ventures IPO is subscribed 1.52 times, while QIB portion was subscribed 0.26 times.