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OCUS Group Announces the Launch of its Second Commercial Project in Gurgaon
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After the grand success of Ocus Technopolis, located on the Golf Course Road in Gurgaon, Ocus Group has announced the launch of Ocus Technopolis2 — Gurgaon’s first ultra efficient commercial project. Spread over 2.43 acres in Sector 51, Gurgaon, Ocus Technopolis2 is slated to become the location of choice for all retail and commercial needs, [...]
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09/02/2010 05:59 AM
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HDFC Increases its Retail Prime Lending Rate (RPLR)
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After a gap of two years, mortgage leader HDFC has increased its retail prime lending rate (RPLR) by 50 basis points to 14.25 per cent.
Significantly, the lender has not said anything on the continuation of its “teaser rates loans”, launched late last year and which was supposed to end yesterday.
“This (the hike) is in line [...]
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09/02/2010 05:58 AM
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Kishore Gotety Appointed Country Head of Indian Real Estate by GIC
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The Government of Singapore Investment Corporation (GIC) has hired Kishore Gotety, who was most recently at RREEF, as country head for India real estate. GIC confirmed the appointment of Gotety as head of real estate for India but declined to comment further. However, the hire suggests GIC believes the opportunity is ripe to start investing [...]
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09/02/2010 05:54 AM
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Bangalore Based Firms Plans to Raise Rs 100 crore through NCDs
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Century Real Estate, a Bangalore-based full-service real estate development company recently raised Rs 100 crore through a private placement of non-convertible debentures (NCDs). The company, which has plans to launch seven projects, will use these funds for project development, according to a company press release. Through these projects, the company would develop a built-up area [...]
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09/01/2010 05:54 AM
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Aditya Birla Group Plans to Expand its Luxury Retail Chain
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Aditya Birla Group, promoted Madura Garments Lifestyle Retail today said it will set up its high-end luxury stores -’The Collective’ in three new cities next year, besides expanding in the existing locations. The company currently operates two stores, one each in Mumbai and Bangalore that sell high-end luxury apparel and accessories from brands across the [...]
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09/01/2010 05:50 AM
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TCIL Plans Exit from Real Estate Business
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Transport Corporation of India (TCIL) will demerge its real estate and warehousing divisions in next three months and expects to create greater value for shareholders through the hive-off. After the demerger, the company would focus on the core activity of providing logistic services, according to a report published in Financial Express.
“Our board approved the [...]
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08/31/2010 07:06 AM
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Realtors Express Satisfaction on Tax Exemption in Housing Loan Segment
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Realty firms and consultants have expressed satisfaction on the proposal to retain income tax exemption on interest up to Rs 1.5 lakh a year on housing loan, but said the government needs to enhance the limit. “It is a very good thing that the government has retained the exemption. It will have a feel-good sentiment [...]
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08/31/2010 07:03 AM
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Consumer Affairs Ministry Gives Green Signal to 49% FDI in Multi-Brand Retail
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The Consumer Affairs Ministry has given the green signal to allow 49 per cent FDI in multi-brand retail. It has written a letter to this effect to the Commerce Ministry. India currently allows 100 per cent FDI in cash-and-carry operation and 51 per cent in single-brand retailing. Foreign investors are barred from investing in multi-brand [...]
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08/30/2010 06:02 AM
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