Gurgaon

Despite signs of the real estate market beginning to overheat, prices continue to rise in most areas, with smaller cities beginning to outstrip larger metropolitan areas. The Indian government continues to adapt and make reforms, such as lifting bans on hi-tech city projects and dematerializing sale deeds, allowing developers to continue initiating large-scale projects, keeping the interest of investors.

By Dhruva Jyoti Chowdhury

Kolkata, India: Just recently, the District Town Planning Department approached the Gurgaon District administration for lodging an FIR against a Delhi builder for indulging in illegal pre-launching of plots through brokers for a colony in the Haryana town. Another Delhi-based builder is under the scanner of District Town Planner, Gurgaon, for collecting money for pre-launch of a Golf Homes project.

Speculators exiting the market

By Dr Suvrokamal Dutta

Excess supply coupled with rising interest rates would lead to lowering of realty price in the suburbs. It is worth mentioning in this regard that plenty of the projects, which were launched in 2005 and 2006, are likely to be finished in the next six months in Gurgaon and Noida.

By Dr Suvrokamal Dutta

High demand for rental space by multinational firms will continue to drive the commercial property price in Gurgaon. Theoretically speaking, the IT-hub Gurgaon is about fifteen kilometer from New Delhi’s airport, which makes the city more convenient for the frequent business travelers and global investors.

Mumbai, India: DLF Ltd has said it would invest Rs 3,500 crore - roughly a third of its planned initial public offering (IPO) - in building up its land reserves. This is significantly lower than its earlier plan of investing Rs 6,500 crore for the purpose.

Announcing its plans here today, DLF said it hoped to raise Rs 9,625 crore through a public issue of 1.75 crore shares in the price band of Rs 500-550 between June 11 and 14.