Released on: April 23, 2008, 1:43 am

Press Release Author: varma

Industry: Real Estate

Press Release Summary: Slowdown in the real estate market notwithstanding, land
deals in India are thriving. According to a recent study, the total value of such
deals, in the first three months of 2008, have touched around Rs 23,000 crore, while
another Rs 10,000-crore worth deals are in the pipeline.


Press Release Body: Slowdown in the real estate market notwithstanding, land deals
in India are thriving. According to a recent study, the total value of such deals,
in the first three months of 2008, have touched around Rs 23,000 crore, while
another Rs 10,000-crore worth deals are in the pipeline.

A study by top brokerage JP Morgan shows that Delhi-based developer BPTP's Rs 5,000-
crore land deal in Noida was the largest deal in the January-March period, while the
Mumbai Metropolitan Region Development Authority's land auctions in Bandra Kurla
Complex had fetched around Rs 4,000 crore.

The deals in the pipeline include the Indian Railways' 50 acres worth Rs 10,000
crore that is scheduled to be auctioned later. Also, a Rs 115-crore deal between the
Balaji group and Prestige group is likely to be completed soon.

In Mumbai, a Rs 250-crore deal by Hindustan Composites is in the final stage, in
which developers such as DLF, Kalpataru and K Raheja Corp are the lead bidders. The
JP Morgan report comes at a time when it is expected that a tightening in global
liquidity and a slowdown in the economy, could put the brakes on the real estate
sector which witnessed a sharp rising growth in the past two years.

As a reflection of this slowdown, developers' plans including malls, complexes and
residential projects are all being kept under wraps. Property prices and rentals
have been falling which was also seen in the loss of investor interest and an
erosion in the market capitalization of large listed players such as DLF and
Unitech. The slowdown is also aided by the fall in stock markets as there is now a
lack of capital among investors to invest in real estate projects.

Industry officials said that given the limited avenues of fund raising, a number of
developers raised funds through instruments such as primary equity offerings and
through foreign currency convertible bonds.

All leading developers have also scaled up their development plans as well as made
fresh land reserve acquisitions. "The fundamentals of Indian real estate are very
strong. More and more global funds are entering India," said real estate consultancy
Jones Lang LaSalle Meghraj chairman and country head Anuj Puri. .........
For Latest Real Estate News:
http://www.maaproperties.com/Pages/ModuleContent.aspx?Module=News

At Maa Properties, we have in-depth knowledge of property markets, extensive
experience, specialized skills and resources necessary to provide an entire range of
reliable and responsive property management services. No matter how far away you are
currently located, our online services enable you to take charge of things and
efficiently handle all property-related transactions back home.

We would like to take the opportunity to welcome all the community members living
world wide to our real estate portal.(NRI)

For More Information about Real Estate Hyderabad, India visit:
http://www.maaproperties.com/


Web Site: http://www.maaproperties.com/

Contact Details: 8-3-318/11/3, Plot No. 3
JP Nagar, Yellareddy Guda
Hyderabad
Andhra Pradesh
India
seo@maaproperties.com