Real Estate

Pulte Group Loss narrows as home sales rise say analysts

Pulte Group Loss narrows as home sales rise say analysts

On Wednesday, Pulte Group posted a narrower quarterly loss, helped by a drop in impairments and land related charges, and mentioned that it expects market conditions to remain relatively stable for the rest of 2010. It may be noted that the revenue rose 75 percent to $1.0 billion with the company announcing that its first quarter impairments and land charges dropped to $8 million from $410 million in 2009.

Impact of Rise in Key Interests on Real Estate in India

Impact of Rise in Key Interests on Real Estate in India

It has been revealed that India's real estate index rallied 3% on Tuesday following the Reserve Bank's decision to increase key interest rates.

According to reports, this is the second consecutive rise in interest rates that India has brought into effect. This follows after the Reserve Bank of India increased its key policy rates by 25 basis points. The bank also increased its cash reserve ratio, commonly known and CRR, by a quarter of a percentage point.

Nitesh Estates Announces Initial Public Offerings

Nitesh Estates Announces Initial Public Offerings

Real estate firm Nitesh Estates has today announced that its initial public proposal worth Rs 405 Crore will be released on April 23 and close on April 27.

The company has been planning to make use of the IPO in funding its current subsidiaries and the associate company, in order to ensure the reimbursement of the loans and deliverance of debentures.

ICICI Securities, Enam Securities, Kotak Mahindra Capital Company and JM Financial Consultants are the chief firms involved in management.

Banks Might Increase Loan Rates on Commercial Real Estate Projects

Banks Might Increase Loan Rates on Commercial Real Estate Projects

The Reserve Bank of India (RBI) might make scrounging more costly for builders by asking banks to set apart more funds for loans to commercial real estate projects. A higher capital necessity will compel banks to increase interest rate on such loans.

Senior bankers are of the view that RBI can either increase normal provisioning or risk weight on bank loans to real estate firms in the approaching policy on April 20. This will be intended at shielding banks’ contact with properties in the midst of mounting prices.

RBI May Come Out with Two Real Estate Indices

RBI May Come Out with Two Real Estate Indices

The Reserve Bank of India (RBI) might soon come out with two real estate indices, one revealing movements in residential property prices and another for commercial property rates. A RBI report on asset price monitoring system has suggested that the indices should be amended every quarter.

If RBI accepts the suggestions, the indices could be useful for financial markets plus the central bank that decides the monetary policy. Many countries like the US, Canada, France and Hong Kong depend on their individual property index to measure the asset price movement in the country.

Emaar Continues to Focus on India

Emaar Continues to Focus on India

An official of Dubai-based Emaar Properties says that it will continue to focus its attention on India as it provides the best investment openings across the 16 nations in which the real estate developer is present.

The official, Mohammad Alabbar, Chairman of Dubai-based real estate firm, Emaar Properties, told ET that seeing the healthy domestic market and soaring economic growth, India will continue to offer higher returns compared to other nations, including the US and the UK.

Air Force knocks door of court over land grab in Mumbai

Air Force knocks door of court over land grab in Mumbai

These days, there is a huge controversy revolving around the Golibar slum in Mumbai's Santa Cruz suburb over Defence Land, as the Air Force is claiming that a set of six buildings have illegally come up on 12 acres of its land which could be worth several hundred crores, with the connivance of government officials.

The buildings are part of government slum rehabilitation scheme however, as per the Air Force; the state government has taken over defence land without permission.

Godrej Properties to transfer 49% shares in HDFC PMS

Godrej Properties to transfer 49% shares in HDFC PMS

Real estate developer Godrej Properties Ltd and HDFC PMS has signed a deal according to which Godrej will transfer its 49 per cent stakes in its subsidiary Godrej Sea View Properties Pvt. Ltd to HDFC PMS which is a joint venture between Housing Development Finance Corp. and UK-based Standard Life Investments.

The deal involves transactions of Rs. 55 Crores in two tranches of 22.27% and 26.73% of the equity share capital of GSVPPL. Godrej has transferred 22.27% of the equity share capital in the firm while remaining 26.73% of the equity share capital of GSVPPL would be soon taken up.

Cheung Kong records 53 percent rise in net income

Cheung Kong records 53 percent rise in net income

Cheung Kong (Holdings) Ltd has announced that its net income rose 53% due to a robust property market in China and Hong Kong in 2009 which resulted in higher sales and increased value of its investments.

The net income rose to HK$19.89 billion compared to HK$13.03 billion last year, according to a filing to the Hong Kong Stock Exchange on Tuesday. The revenues of the firm rose 48% to HK$24.29 billion from HK$16.44 billion in the year ago period.

Mumbai, Delhi Realty Markets in Bloom: Wealth Report 2010

Mumbai, Delhi Realty Markets in Bloom: Wealth Report 2010

Knight Frank and Citi Private Bank revealed the details of Wealth Report 2010, their latest worldwide research. One of the key revelations of the report was that the thriving realty markets in Mumbai and New Delhi had a level of “significant promise” for investors.

The Wealth Report gives a world's eye on the prime residential property markets' performance. It also places special emphasis on the important areas in the property markets of Asia Pacific.