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Readings: Realty delays, Sector weakness, FII bye-bye

Posted on June 23, 2008

Business Standard: Rs 8,000 crore premium realty projects face delay. . . the construction cost for large commercial projects was Rs 2,000 per square foot, on average . . . construction cost is growing 20 per cent every year and the developers are carrying a compounded interest burden of 30 to 40 per cent after three years.By 2008-end, Mumbai and its suburbs will add 15.4 million square feet of office space. In Mumbai, developers need to obtain 56 approvals from environment and forest department, pollution control board and others. It takes over a year to get these approvals, Hindu Busines...

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bse , india , sensex