City Lights

The credit ratings agency CRISIL recently launched real estate ratings in India,which would help common buyers make informed purchases.

CRISIL launches real estate ratings

NEW DELHI: The credit ratings agency CRISIL recently launched real estate ratings in India,which would help common buyers make informed purchases and is expected to bring in more transparency in real estate buying the system will work on a project-specific basis and rate it on a on a scale of one to seven stars after comparing with other alternatives available in the same city. CRISIL8217;s Managing Director and Chief Executive Officer,Roopa Kudva said: A developer commissions the agency and gives us access to various details needed for assessment. We take into account our parameters and rate the project. Once the developer accepts the rating,we go public with the rating and project analysis which will be given to common buyers for free.

DLF Brands to open 4 stores

NEW DELHI: DLF Brands Ltd. a retail management subsidiary of real estate major DLF is set to launch four stores in Kolkata. Boggi Milano- the Italian menswear brand,Sunglass Hut- a one stop destination for premium and luxury eyewear,Alcott- the chic and stylish Italian clothing line for the youth opened their retail outlets in Forum Courtyard and Early Learning Centre- Britain8217;s leading children8217;s toy retailer,opened its retail outlet at Forum Mall,Kolkata.

Retail market rebounds: Survey

NEW DELHI: The latest global commercial property survey from RICS suggests that lettings activity in India rose at a faster pace in the second quarter with investment activity also moving higher across all three sectors. The uptick in tenant demand growth has occurred most visibly in the retail and office sectors with industrial activity seeing little change compared to Q1. Confidence in the outlook for lettings activity over the next three months has moved sharply higher in the office and retail sectors. Again,the mood in the industrial market appears to be lagging despite remaining mildly positive

HDFC raises loan rates

NEW DELHI: Housing Development Finance Corporation HDFC,Indias largest mortgage financier,increased its retail prime lending rate PLR by 50 basis points bps to 14.25 per cent. This is the first time HDFC is increasing its PLR in two years.According to a senior HDFC official,75 per cent of the mortgage financiers lending is done at floating rates. Our cost of funds have gone up and we have to maintain spreads and profitability. Our rate hike comes after many banks active in home lending have raised rates. The increase is unlikely to impact the pace of home loan growth, the official said. For HDFC,the spread on loans over the cost of borrowings for the quarter ended June stood at 2.34 per cent compared to 2.31 per cent for the year ended March 31,the executive added.

Shirdi Ind to raise funds

MUMBAI: Leading medium density fibre MDF manufacturer and furniture maker Shirdi Industries is all set to raise funds through initial public offer IPO and debt for its expansion,said a top company official. 8220;Our new plant in Chennai is in progress and certainly we need funds to expand our capacity. It could be IPO,debt or any other source of fund-raising tools,8221; said RK Agarwal,managing director of Shirdi Industries Limited.