Real Estate Talk

George · Guest

Real estate consultant Knight Frank India expects further correction
in home prices if the current slowdown in residential property sales
continues. “The volumes of transactions are low and it is a precursor
to prices going down. In a lot of speculative areas, prices have
already gone down. If these trends continue for another two to three
months, it is very likely prices will come down for residential
segment," Knight Frank’s chairman said.

LN Mittal buys stake in Indiabulls
Multi-billionaire LN Mittal has invested $ 75 million in Indiabulls
Properties Investments Trust (IPIT), a subsidiary of Indiabulls Real
Estate Ltd. Mittal has acquired 3.9% stake in the trust. IPIT, the
first Indian real estate investment trusts (REIT) that has decided to
list on Singapore Stock exchange, plans to mop up $ 235 million
through divestment of around 13.3% stake. The issue is likely to open
in the third week of May.

» Omaxe lines up $ 20 bln to build low cost homes
Realty firm Omaxe has lined up a $ 20 billion investment to develop 10
lakh affordable homes for low-income consumers. The company is
planning to offer these housing units in a price range of Rs 3-15 lakh
per flat.

» Nitesh Estates plans to raise Rs 600 cr
Bangalore-based Nitesh Estates is looking to raise close to Rs 600
crore for its upcoming projects as it seeks to expand its presence.
The company will mop up these funds through the Special Purpose
Vehicle (SPV) route. This will be the third time that this firm is
tapping the private equity pool. For more detail visit http://www.magicbricks.com