GPT Infraprojects secures order worth Rs 217 crore
GPT Infraprojects has won a new order from Rail Vikas Nigam for the construction of bridges and other works on the Mathure-Jhansi line in Agra, amounting to Rs 2.17 billion. The construction work will be spread across Madhya Pradesh, Uttar Pradesh and Rajasthan, and the company is expecting to complete the projects in the next three years. The stock of the company is trading with gains on the news. In the last one year the stock has surged by 12.63%, and is currently trading with a P/E of 24.86. Read More
What REITs (Real Estate Investment Trusts) mean for Indian Real Estate
The real estate sector in India has been lucrative for savvy investors over the last decade, but it has not been without accompanying uncertainties. The introduction of REITs (Real Estate Investment Trusts) will open up a platform that will allow all kinds of investors – even those with smaller budgets – to make safe and rewarding investments into the Indian real estate market. The best thing about REIT is that investors can start with as small a sum as Rs. 2 lakh to secure units in exchange. The REIT platform has already been approved by the Securities and Exchange Board of India (SEBI) and like mutual funds, it will pool the money from all investors across the country. The money collected from the REIT funds will subsequently be invested in commercial properties to generate income. Read More
High times for the Chennai real estate market
2016 was year of many big announcements. From the Smart Cities mission to demonetization, there were several headline-making events that would change the face of Indian real estate in the times to come. Chennai embraced these changes and lived up to its reputation of being a city that bounces back, regardless of the odds. Chennai is among those metros which has a healthy diversification of economic growth driver. Its economy has a broad industrial base, with Chennai’s port and its thriving IT/ITeS and BFSI sectors contributing to its growth. The city’s manufacturing sector includes the automobile, computer, technology and hardware industries. Read More
Budget 2017: Impact on India’s residential real estate market
It is the most important financial exercise to set the course of India’s economy for an entire year. Union Budget 2017 has been declared – and it has impacted the real estate sector in a big way. It is no secret that the sector has been going through challenging times for the past couple of years. It was in dire need of proactive policy changes to take it out of the red zone. The sector’s importance cannot be over-emphasized – it is the second-biggest employment generator after agriculture, and contributes between 5-6% to the country’s Gross Domestic Product (GDP). Read More
Real Estate Law: Cracking Down on Dodgy Developers
In recent times, the Indian real estate developer community has been in the news for all the wrong reasons. The good news is that the ‘black sheep’ of this family are being brought to book, simultaneously increasing the contrast between unscrupulous operators and transparent, honest builders who have hard-won reputations to protect. The fact that the law is coming down heavily on unreliable builders is very positive, as it prevents the entire community from getting maligned. Also, consumers now know that their grievances will be heard and acted upon. In a significant ruling, a consumer disputes redressal forum has held a builder in Mumbai guilty of non-compliance of an order passed nine years ago. He has been sentenced to two years imprisonment. The forum chief found that the builder had failed to hand over the flat within the promised time, despite receiving the entire sum. Based on the buyer’s complaint of deficiency in service, the forum had directed the builder to hand over the flat with all the amenities, along with compensation for delay and litigation expenses, within two months. However, even after all these years, the buyer’s wait for possession did not end, leading to the imprisonment decision.
[Source:-IIFL]
