Out of 1 million properties, 58% are for sale and 42% for rent and 2.1 lakh exclusive listings posted only on its platform by individual property owners from across 700 towns and cities. Ends
Developer prepays Rs 250 crore loan it had raised from Altico
FPCE’s demand for a forensic audit stems from the apex court’s Amrapali Group ruling that directed the government to take appropriate steps on a time-bound basis.
According to the data compiled by the brokerage firm, developers had total unsold inventories of 7,97,623 units at the end of June quarter across nine cities.
In 2010, Parsvnath through an auction had bought about 37 acre land located at Sarai Rohilla-Kishanganj area in the national capital.
Manoj Gaur, MD, Gaurs Group, said, "Timely delivery of the projects and a strong after-sales service has helped us achieve such good numbers."
Real estate developer Sobha believes that demand in the residential sector will continue to grow as benefits from the structural reforms begin to show results.
Few developers with strong balance sheet, track record and group backing are expected to consolidate their position.
Liquidity risk for Indian-based real-estate developers is increasing, Fitch Ratings has said.
Following J&K's reorganisation, people from other states are now eligible to buy property there.
Out of the nearly 2.2 lakh units, JLL said in a report that "about 30,000 units are confirmed to be scrapped".
Total debt of Coffee Day Enterprise stands at Rs 6,547 cr, which includes loans and securities sold to MFs.
According to the Real Estate Sentiment Index Q2 2019 survey, the future sentiment score during the quarter stood at 47.
The court also restricted NCA and GFT from creating any charges, third party interests in their assets without IIRF’s consent.
The board of Embassy REIT declared a distribution of Rs 417 crore, or Rs 5.4 per unit, for the quarter. The record date for the distribution is August 21, and the distribution will be made on or before August 27.
The survey mentions that weak demand, inventory overhang, developer defaults coupled with the worsening of the NBFC crisis has dried up funding for the sector.
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