Six years after selling off its housing finance to IDBI, the Tata Group is again foraying into home finance. Tata Housing Finance Company Ltd (THFCL), a wholly-owned subsidiary of Tata Capital, would be focusing on tier-II and tier III cities for financing homes.
The housing finance company was set up with an authorised share capital of Rs 100 crore, of which Rs 10 crore has already been subscribed, said Praveen P Kadle, managing director, Tata Capital.
THFCL is targeting Rs 200 to Rs 400 crore in … (0 comments)
re: PARSVNATH, OMAXE PLAN QIP ROUTE
- 05/22/09 12:11 AM
Cash-strapped Delhi-based property developers Parsvnath and Omaxe have initiated moves to raise at least Rs 1,000 crore each by way of share sales to qualified institutional buyers, hoping to capitalise on the recent success of their peers in raising funds, officials at the two firms said. Senior executives at the two companies, who asked not to be named, said separately plans were being firmed up by them to raise between Rs 1000-2000 crore each through the qualified institutional placement (QIP) route. The two firms did not respond to separate ET queries asking them to comment on any QIP plans, although … (0 comments)
re: WHY CBSE SHOULD APPEAL AGINST DELHI HC JUDGMENT ON SERVICE TAX ON RENTING PROPERTY
- 05/22/09 12:10 AM
Conceptual clear thinking is at stake. Also at stake is substantial revenue. A very recent judgement of the Delhi High Court holding that renting of immovable property is not service is now of great importance since it will set precedence for other services to get similar judgment that they are not service.
Section 65(105)(zzzz) of Finance Act 1994 reads "to any person, by any other person in relation to renting of immovable property for use in the course or furtherance of business or commerce". The High Court has held that service tax is value-added tax and since there is … (0 comments)
Appaswamy Group's premium project Triumph in Chennai is targeted at upper middle segment
IT was launched 18 months ago at Rs 4,800 per sq ft, when the guideline value in the Vadapalani (Chennai) area was hovering around Rs 4,000. The 108-unit premium residential project from Appaswamy Group - Triumph - now has only eight units left for sale priced at Rs 5,000 per sq ft.
Located near Radha Park Inn, off Vadapalani, in a bustling area, the facade of the project is quite attractive, catching the eye of passers-by. The Rs 70-crore project on 26 grounds (1 … (0 comments)
After infusing Rs 3,860 crore into DLF Assets Ltd (DAL) by selling a 9.9 per cent stake in realty major DLF to institutional investors this morning, promoters K P Singh and family plan to list the real estate investment trust in the next 18 to 24 months, Rajiv Singh, vice-chairman of DLF Ltd, said.
The group also plans to nearly halve DLF's debt from Rs 13,958 crore to Rs 7,000 crore by the end of the current financial year by selling around Rs 5,500 crore worth of assets and raising … (0 comments)
re: Realistic prices boost flat bookings, show revival hopes
- 05/13/09 10:41 PM
EARLY SIGNS of deal-making in apartments during the first quarter of 2009 show a possible revival of demand in the real estate sector, say some analysts. A study conducted by real estate research firm Prop Equity in Mumbai, Bangalore, Chennai, Hyderabad and Gurgaon says absorption has been high among the residential new launches in the first quarter of 2009 in Mumbai, Chennai and Gurgaon, where developers had offered discounts and reduced flat sizes to lure buyers. But absorption is less in Bangalore and Hyderabad where developers launched few projects on account of oversupply "Mumbai has seen a rise . in … (0 comments)
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