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Realty transactions crossed Rs. 23,000 crore in 3 months

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According to the sources available to www.propertykhazana.com, hold up in realty market is not resisting and property contracts in India are flourishing. The total value of such contracts, in first 3 months of 2008 have tapped about Rs. 23,000 Crores as one more Rs. 10,000 Crores worth contracts are in pipeline. JP Morgan proves that Delhi based Developer BPTP’s Rs. 5,000 Crores property contract in Noida was the biggest contract in January-March period, as the Mumbai Metropolitan Region Development Authority’s Land sales in Bandra Kurla Complex had fetched about Rs. 4,000 Crores. In Mumbai Rs. 250 Crores contract by Hindustan Composites is in the last stage in which developers like DLF, Kalpataru and K Raheja Corp are the leading bidders. JP Morgan came at the time when it was estimated that lessening in global liquidity and a retard in the economy will put the footbrake on the realty segment which observed an increasing growth from 2 years.
By giving the incomplete paths of fund rising, many developers increased funds during instruments like primary equity offerings and during foreign currency exchangeable bonds. All leading developers have extended their development proposals as well as made it as new property reserve acquirement. Realty consultancy Jones Lang LaSalle Meghraj Chairman and Country Head Anuj Puri said to www.propertykhazana.com that, “The rudiments of Indian realty are very burly and increasingly global funds are giving an entry to India.”
Source: NBTVLIVE

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