M3M buys 28 acre land in Gurgaon from DLF for Rs 440cr
NEW DELHI: Real estate firm M3M today said it has bought 28 acre of prime land in Gurgaon from the country’s largest developer DLF for Rs 440 crore and will invest another about Rs 660 crore to build a housing project on it. “We have purchased 28 acre of land from DLF in Gurgaon where [...]
DLF hopes to reduce debt to Rs 10,000 cr in two years
NEW DELHI: The country’s largest realty firm DLF expects to pare its debt burden of over Rs 22,500 crore to less than half in the next two years. As part of the strategy to bring down its total debt to about Rs 10,000 crore by 2013, the firm is closing in on a few deals [...]
Real estate players such as DLF & Unitech build hopes on FDI in retail decision
NEW DELHI: The government’s decision to allow 51% foreign direct investment in multi-brand retail and increase FDI limit in single-brand retail to 100% comes as a whiff of fresh air for the real estate sector, which has been battling slow sales and rising debt for almost two years now. The cabinet’s decision on Thursday may [...]
The impact of CCI’s order on Indian realty firms
The recent judgment of the Competition Commission of India (“CCI”) in Belaire Owner’s Association vs DLF Limited has created ripples in the real estate sector. The news has come as another dampener for a sector that is already reeling under the impact of hike in interest rates, dwindling buyers and a looming recession in the [...]
