Mumbai, Dec 13: As global economic meltdown and recent terror attacks have lead to downfall in property rates in Mumbai, builders feel it''s the right time to buy property.
The November 26 Mumbai terror attack have led to serious decline in property rates and have also turned the customers from Mumbai to the suburban Navi Mumbai.
Navi Mumbai is considered to be much safer and cheaper region in Mumbai.
Hordes of people thronged a property exhibition organised by the Builders Association of Navi Mumbai (BANM) in search of various schemes and offers to match their budget.
The IL&FS Investment Managers (IIML) announced that in its second real estate fund, it has mobilised $895 million (nearly Rs 4,500 crore). This is more than the initial mobilisation target of $750 million and far ahead of the $525 million it got in its first real estate fund. Its first fund was closed in April 2006, during the middle of the five-year long bull rally which had started in 2003.
Archana Hingorani, CEO & ED of the fund house said, "Each of the investors who had invested in its first fund, also invested in the second fund. "
Real estate firms are not satisfied with the financial package announced by government to speed up economic growth. Terming it as 'disappointing', the realtors said that reality sector is under huge pressure due to costly credit and low demand following global financial crisis. However, they welcomed the duty cut on steel and cement as it would decrease construction cost and hence increase demand. The real estate companies demanded more measures to provide easy finance for housing.
Marg Limited, India’s leading Infrastructure and RealEstate development company, has received a contract from the Karnataka government.
The scope of order involves development of airport at Bijapur, Karnataka.
However, the company did not disclose the financial details of the deal.
Recently, the company laid foundation stone for the country’s first fishing harbour on a Public Private Partnership model, at Rajakamangalam Thurai in Kanyakumari district, Tamil Nadu.
DLF Assets (DAL), promoted by K P Singh will raise USD 450 million from private equity investors by December for part payment to another promoter group firm DLF Ltd.
DLF Assets Ltd has been established to acquire commercial projects of DLF, the country's largest realty firm.
DAL owes Rs 4,804 crore to DLF as on September 30 and was targeting capital raising to the tune of USD 400–500 million. The DAL PE deal, in which JP Morgan and Texas Pacific will together put in USD 200 million, is likely to be signed in the next few days.
Goldman Sachs expressed concerns over the slowdown in Indian reality sector following global slowdown. It has stressed the need to cut reality prices by 30% to increase demand. However, it can affect the annual economic growth rate but the price reduction would increase affordability of people.
Mumbai, Dec 13: As global economic meltdown and recent terror attacks have lead to downfall in property rates in Mumbai, builders feel it''s the right time to buy property.
The IL&FS Investment Managers (IIML) announced that in its second real estate fund, it has mobilised $895 million (nearly Rs 4,500 crore). This is more than the initial mobilisation target of $750 million and far ahead of the $525 million it got in its first real estate fund. Its first fund was closed in April 2006, during the middle of the five-year long bull rally which had started in 2003. 
Real estate firms are not satisfied with the financial package announced by government to speed up economic growth. Terming it as 'disappointing', the realtors said that reality sector is under huge pressure due to costly credit and low demand following global financial crisis. However, they welcomed the duty cut on steel and cement as it would decrease construction cost and hence increase demand. The real estate companies demanded more measures to provide easy finance for housing.
Marg Limited, India’s leading Infrastructure and RealEstate development company, has received a contract from the Karnataka government.
DLF Assets (DAL), promoted by K P Singh will raise USD 450 million from private equity investors by December for part payment to another promoter group firm DLF Ltd. 
Goldman Sachs expressed concerns over the slowdown in Indian reality sector following global slowdown. It has stressed the need to cut reality prices by 30% to increase demand. However, it can affect the annual economic growth rate but the price reduction would increase affordability of people.
