The liquidity crunch in the real estate sector has hit Indian Railways’ efforts to lease out surplus land for commercial development on public-private partnership.
Last week, the Railway Land Development Authority (RLDA) cancelled the bidding process for developing a private residential complex at Sarai Rohilla in Delhi. A senior official at RLDA said, The developer at Sarai Rohilla was repeatedly deferring the date for making the upfront payment for the plot. We have decided to drop the tender for the project.
The site, spread over 11 hectares, had been offered last April for constructing a residential complex with facilities such as a shopping complex and health care centres. The reserve price had been set at Rs 675 crore.
More : business-standard.com
Send an E-Mail for Noida Property Enquiry!
Related News from Noida
Master planning: Punjab govt to do a Noida in Mohali
The Punjab Government has decided to set up a Greater Mohali Development Authority for the development of the proposed 107 sectors in the Mohali Master Plan. Low density development will be allowed near Balongi, which will have a minimum of two kanal houses and farmhouses. An urban estate in Zirakpur is also in the offing. Sources said the Greater Mohali Development Authority will be formed on the pattern of Greater Noida Urban Development Authority for proper planning and development of Mohali and the proposed sectors nearby. It will also plan the development of the periphery around Chandigarh, as some 300
MNC’s Noida dreams demolished by govt
NEW DELHI: The government has rejected a proposal by a consortium of international real estate developers and investors for development of 1,00,000 sq ft of residential property and 50,000 sq ft retail space for creation of a shopping mall at Noida Special Economic Zone on the ground that there is no provision for residential and commercial development in SEZs. It has said that the consortium would have to approach Noida Authority for appropriate designated area and develop the project as per Noida Master Plan. The government also said there would be no relaxation in policy in relation to allowing 100%
No cheer for realty
Things started to go wrong in 2008 for the Indian real estate industry. Thought the year began on a good enough note with big land deals like the Rs5000 crore BPTP deal in Noida for 95 acres and Rs2,250 crore Adani-HDIL deal in Bandra-Kurla Complex. But by the end of the year, a slowing economy, high cost of construction and land, the global financial crisis and the fast drying up private equity investments spoiled the developers party. With interest rates climbing, even residential buyers abandoned the market. Commercial real estate deals slowed down as well. The lack of demand caused developers
Greater Noida land price revision unlikely to affect demand
The increase in minimum rates for land in Greater Noida is unlikely to affect demand for property in the area, real estate experts claim. The Greater Noida Industrial Development Authority board increased the minimum rates for all categories of land on Tuesday. Accordingly, residential land rates have been hiked from Rs 5,900 per square metre to Rs 10,500 per square metre, while institutional land rates have been revised from Rs 2,800 per square metre to Rs 6,000 square metre. More : business-standard.com
Greater Noida Real Estate Rates Rise Further
Accordingly, residential land rates have been hiked from Rs 5,900 per square metre to Rs 10,500 per square metre, while institutional land rates have been revised from Rs 2,800 per square metre to Rs 6,000 square metre. For the commercial land category, the rates have been increased from Rs 12,000 per square metre to Rs 20,000 per square metre. Welcoming the move, Parsvnath Developers Ltd (PDL) chairman Pradeep Jain said, In comparison with adjoining areas such as Gurgaon and Sonepat, the infrastructure facilities in Greater Noida are better and the demand for land is also high. More : in2perspective.com
Realty sector begins to look up, ahead: boom by Diwali
Bogged down by the economic slowdown, the real estate sector is going all out to woo would-be buyers. Builders and realtors from across the country, thus, went all out to promote their upcoming projects at the three-day Property Expo, which concluded at Pragati Maidan on Monday. In an attempt to get some of their properties booked, they offered deals like free luxury cars and up to 8 per cent discount on the base price. And though many admitted the exhibition attracted fewer enquiries than it would have in previous years, most builders were said the situation is starting to show
Realty show may be for real, but only just
Realty rules, but investors need to tread cautiously. On the morning of May 22, when the Bombay Stock Exchange went into a free fall, Ismail Khokar made a decision he does not regret. The 48-year-old garment exporter, who had entered into a Rs45 lakh deal to purchase an 800 sq ft flat at Lokhandwala, decided to hold on to his hard-earned money. I had to forgo the Rs 50,000 deposit, but I decided it was better to wait, he says. So is the stock market downturn hurting real estate? Says Anshuman Magazine, managing director of CB Richard Ellis, a real-estate