Weekly News Roundup (22 Apr 2016) – Real Estate News Under 100 Words

news-letter_22nd_April

Debt driven inventory pile-up a risk for real estate sector in FY17
The implementation of Real Estate (Regulation and Development) Act, 2016 is likely to improve confidence of buyers in the sector, as it improves transparency, provides for various buyer-friendly measures and encourages timely completion of projects. Read more

Commercial real estate on a rise in India, upped 8% from last year
The quarter saw commercial real estate transactions going up 23%, with demands being led by companies in BFSI (banking, financial service and insurance), e-commerce and IT/ITeS sectors. Read more

Real estate developers body vows to oppose corruption
Unveiling a vision document for Credai for the next 10 years, the newly-appointed president of Credai Chennai, Suresh Krishn said on Sunday that his organisation had set tall benchmarks with its path-breaking and innovative initiatives like introducing ethical code of conduct and transparency in functioning of developers in the past. Read more

Lack of promoters’ interest stalled projects in India: DBS
Of the projects being implemented, about 12 per cent face renewed hurdles according to Centre for Monitoring Indian Economy (CMIE) data, said the bank in a report on the Indian economy. Read more

Third Trump Property to Open in India
The Trump Organization just announced that the Trump name will be emblazoned on a third building in India, and this time, it will be an office tower. IREO Private Ltd., India’s largest real estate private equity firm, will develop and own a trophy office tower in Gurgaon. Read more

Order flows in construction sector poised to grow: India Ratings
Companies in the construction sector continued to witness negative cash flows from operations (CFO) in FY16, which is likely to improve gradually to near zero levels in FY17 as more orders procured during the last two years are executed, according to India Ratings and Research (Ind-Ra). Read more

Karnataka to house India’s second construction waste recycling plant
The proposed unit will be set up in collaboration with the department of mines and geology at a cost of Rs 5.87 crore. The project got the nod at general body meeting of the HDMC recently.As per the action plan, Rs 2.57 crore will be spent in the main unit, Rs 1.86 crore for machines and vehicles and Rs 1.44 crore for collecting and portage. Read more

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