Housing Projects

Macrotech acquires 10 land parcels in FY25 for Rs 24K cr housing projects

Real estate firm Macrotech Developers acquired 10 land parcels last fiscal to develop housing projects with a total sales value of nearly Rs 24,000 crore, as it seeks to expand business amid strong demand. Listed entity Macrotech Developers, which sells properties under Lodha brand, had given a guidance for 2024-25 that it would be acquiring land parcels having a revenue potential of Rs 21,000 crore. To expand its business, the company acquires land parcels outright as well as forms partnerships with landowners to develop housing projects. In its latest operational update, Macrotech Developers said it has acquired two new land parcels in Pune with GDV (gross development value) of Rs 4,300 crore. During the full 2024-25 fiscal, the company acquired 10 land parcels with around Rs 23,700 crore of GDV across MMR (Mumbai Metropolitan Region), Bengaluru and Pune, surpassing its full year guidance of Rs 21,000 crore. Out of the total 10 land deals, the company did not mention the numbe

Godrej Properties sells homes worth ₹1,000 cr in Gurugram luxury project

Company says it will strengthen its presence in 'extremely important market' of Gurugram

Primus launches B'luru's 1st multi-generational community 'Primus Sangama'

A multi-generational community is typically designed for children, adults, and seniors to coexist while maintaining independent lifestyles

Housing Price Index in NCR rises 17 points in Dec on high demand: Report

Housing Price Index (HPI) in Delhi-NCR increased 17 points in December last year compared to September on high demand, according to Housing.com and ISB report. The Housing Price Index (HPI), a joint initiative by online real estate advisory platform Housing.com and the Indian School of Business (ISB), tracks changes in the selling prices of new residential properties over time. As per the report, "property prices have shown a dramatic rise in the National Capital Region as reflected in the HPI reading of 195 points in December 2024". The average price in Delhi-NCR is Rs 8,105 per square feet. "The HPI reading for NCR showed a 17-point jump in December when compared to the reading seen in September. The price rally is primarily being fuelled by the demand for larger premium properties," the report said. Housing.com and ISB said that the prices are likely to continue to rise in Delhi-NCR. Dhruv Agarwala, Group CEO, Housing.com & PropTiger.com, said, "Firming up prices tells a story

DLF to invest ₹20,000 cr in housing projects, eyes ₹43k cr surplus cash

Real estate major DLF Ltd will invest around Rs 20,000 crore over the next few years to complete the construction of its already launched residential projects. DLF will generate around Rs 43,000 crore of total surplus cash potential from the launched projects. In a corporate presentation uploaded on stock exchanges' website on Friday, DLF shared the growth strategy of its development (housing) business and annuity business, which is building rent-yielding commercial projects. As per the presentation, the "total pending cost to complete all launched projects" is around Rs 20,000 crore. In the last few years, DLF has launched many housing projects in Gurugram, including the ultra-luxury project 'The Dahlias', which has a revenue potential of around Rs 35,000 crore. DLF also informed that the company had Rs 9,000 crore cash balance at the end of the December quarter and the customers receivables from housing units sold stood at Rs 30,000 crore. The estimated cash surplus from invent

India, World Bank may ink $500 million deal for rural housing project

"SHIELD is designed to make rural housing cooler, more energy efficient, and more disaster resilient," another government official said

Signature Global targets zero net debt by FY26 on strong sales: Chairman

Realty firm Signature Global is targeting to achieve zero net debt during the next fiscal year on healthy internal cash flow supported by strong consumer demand for its residential projects in Gurugram. The company has reduced its net debt in the October-December quarter to Rs 740 crore, from Rs 1,020 crore at the end of the second quarter of this fiscal year. "We will achieve zero net debt during the next financial year," Signature Global Chairman Pradeep Kumar Aggarwal told PTI. He said the company has reduced its net debt significantly and would continue to do so. Signature Global net debt stood at Rs 1,160 crore at the end of the 2023-24 financial year. Aggarwal said the housing demand continues to be robust in Gurugram although he agreed that the "frenzy" witnessed during the past few years has subsided to some extent. He said the company would focus on a price bracket of Rs 2-5 crore per unit. "In this price bracket there is a huge demand but limited supply." On an operati

Godrej Properties bought 12 land parcels in Apr-Dec 2024: Pirojsha

Godrej Properties acquired 12 land parcels during April-December period of this fiscal to develop housing projects worth Rs 23,450 crore, and plans to buy more in the ongoing quarter to expand business amid strong consumer demand. Godrej Properties acquires land outright and also partners with landowners, under new business development. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej said the "business development was very strong during December quarter". The company signed new projects with a total booking value potential of nearly Rs 11,000 crore during the third quarter of this fiscal, he said, adding the business development crossed Rs 23,000 crore during April-December. "We had guided for Rs 20,000 crore, so we've already crossed full year guidance for business development," Pirojsha said. In its latest investors presentation, Godrej Properties informed that the company has added 12 projects with a total estimated saleable area of 169 lakh .

Housing sales in Jaipur rise 5% in 2024, value up 39%: PropEquity

Housing sales in Jaipur rose just 5 per cent to 10,695 units in 2024 but grew 39 per cent in value terms to Rs 8,388 crore, according to real estate data analytics firm PropEquity. In 2023, housing sales in the capital city of Rajasthan stood at 10,187 units, with value of Rs 6,019 crore, PropEquity data showed. PropEquity Founder Samir Jasuja attributed the higher growth in sales value to rising input cost of real estate projects because of an increase in prices of land, labour and construction materials. Moreover, the developers are launching more premium and luxury housing projects, leading to higher sales value. PropEquity has recently released the data for 15 major tier-II cities where total housing sales rose 4 per cent to 1,78,771 units in 2024 from 1,71,903 in the preceding year. In value terms, the sales increased 20 per cent to Rs 1,52,552 crore in 2024 from Rs 1,27,505 crore during 2023. These 15 locations are -- Ahmedabad, Surat, Vadodara, Gandhinagar, Nashik, Jaipur

Lumos Alternate, Bakeri Group to set up Rs 500 cr fund for housing projects

Realty company Bakeri Group and investment management firm Lumos Alternate have partnered to set up a Rs 500 crore real estate investment platform. The platform 'Sakar Realty Fund- I', which recently received final approval from Sebi, will invest in mid-market residential projects in Bengaluru, Mumbai, Ahmedabad, and Pune, with an investment horizon of 3-4 years per project, Lumos Alternate said in a statement. It aims to provide superior returns to its investors by leveraging the exceptional execution capabilities of Bakeri Group, which has delivered more than 420 lakh square feet of real estate development over its 65-year legacy. The platform is expected to attract a diverse range of investors, including high-net-worth individuals (HNIs), family offices, and institutional investors. "The real estate market has been robust over the past few years, and many family offices and HNIs are looking to establish long-term direct partnerships with credible real estate developers who have

Prestige Estates to launch Rs 30K-cr projects, aims Rs 24K-cr pre-sales

Real estate firm Prestige Estates Projects Ltd is planning to launch Rs 30,000 crore of housing projects this quarter across major cities to tap robust consumer demand. According to a transcript of company's discussion with market analysts, Bengaluru-based Prestige Estates Executive Director Zayd Noaman said the company will launch "a total of Rs 30,000 crore worth of inventory" in this quarter. "We are saying this with utmost confidence as most of these projects have been logged in for RERA and should be launched in the next few weeks," he added. Noaman said the company would be launching projects mainly in Bengaluru, Delhi-NCR, Chennai, and Mumbai. Asked whether the company would be able to meet sales guidance of Rs 24,000 crore for this entire fiscal year, Prestige Group CMD Irfan Razack said it was possible provided the company gets regulatory approvals to launch projects. Prestige Estates' sales bookings have declined 38 per cent to Rs 10,065.7 crore during April-December per

Union Bank of India to raise up to Rs 20,000 cr to finance infra, housing

Union Bank of India on Wednesday said it plans to raise long-term bonds worth up to Rs 20,000 crore to finance infrastructure and affordable housing. The public sector lender also plans to issue green/sustainable bonds of up to Rs 5,000 crore, it said, announcing the outcome of the meeting of its Board of Directors. On Monday, the bank reported a 28 per cent increase in net profit to Rs 4,604 crore for the third quarter ended December 2024, helped by improved core income. The Mumbai-based bank had earned a net profit of Rs 3,590 crore in the same quarter a year ago. Its total income rose to Rs 31,375 crore in the reporting quarter from Rs 29,137 crore a year ago, Union Bank of India said in a regulatory filing.

Emaar India to invest Rs 1,600 cr on new housing project in Gurugram

Realty firm Emaar India will invest around Rs 1,600 crore to develop a new luxury housing project in Gurugram as part of its expansion plan amid strong demand for residential properties. Emaar India, which is part of Dubai-based Emaar Properties, has launched a new housing project 'Urban Ascent' in Sector 112, Gurugram. "We have launched a new housing project on Dwarka Expressway, Gurugram. It is a 9.2 acre luxury housing project where we will be developing 816 apartments," Emaar India CEO Kalyan Chakrabarti told PTI. He said this project is under joint development agreement (JDA) with land owners. "The total investment will be around Rs 1,600 crore to develop this green project," he said. Chakrabarti said the housing demand continues to be strong in Delhi-NCR from end-users as well as investors. "This is our first launch this year. Urban Ascent is more than just a residential project'- it's a lifestyle crafted for those who seek comfort, convenience and a connection to nature,"

Land deals rose to over 2,200 acres, mainly for housing projects: CBRE

Indian real estate sector saw more land deals in 2024 at over 2,200 acres as developers were looking to expand the business, according to CBRE. Real estate consultant CBRE data showed that land deals of more than 2,200 acres last year as against about 1,900 acres in the preceding year. Out of the total land transactions in 2024, around 2,000 acres were located in the eight major cities -- Delhi-NCR, Bengaluru, Mumbai, Chennai, Pune, Hyderabad, Kolkata and Ahmedabad. Nearly 1,200 acres of land are meant for residential projects, around 580 acres for industrial & warehousing parks and 200 acres for data centres. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, "The significant growth in land deals across diverse asset classes highlights strong investor confidence in India's real estate market." The residential segment is booming due to rising urbanisation, favourable policies, and increased affordability, he ...

Pace of price growth for housing properties expected to moderate next year

Potential homebuyers must ensure they don't overstretch themselves financially

Rs 200 cr of homebuyer's compensation recovered from realtors: MahaRERA

The Maharashtra Real Estate Regulatory Authority (MahaRERA) on Monday said it has recovered over Rs 200 crore from developers to compensate homebuyers for their losses. The authority also outlined plans to further intensify its recovery efforts. The real estate watchdog said it has issued 1,163 warrants for recovering Rs 705.62 crore across the state and has made developers cough up Rs 200.23 crore from 283 warrants involving 139 real estate projects, as per an official statement. Over Rs 378 crore of the recoveries are due from Mumbai suburban and Pune alone, the statement said, adding that specific efforts are being undertaken to expedite the same like appointing retired Tahsildars (revenue officials) in the offices of the district collectorates in Mumbai suburban and Pune. Of the Rs 200 crore in recoveries, Mumbai city contributed Rs 46.47 crore in recoveries involving 22 warrants in 13 projects, Rs 76.33 crore came from 85 warrants in 42 projects in Mumbai suburban and Rs 39.10

Avg construction cost for housing projects up 39% in 4 years: Colliers

The average cost of construction for housing projects in big cities has increased by 39 per cent in the last four years to Rs 2,780 per sq ft, with building materials and labour becoming expensive, according to Colliers India. Real estate consultant Colliers India data shows that the average construction cost for premium housing projects stood at Rs 2,000 per square feet in October 2020. The construction cost rose to Rs 2,200 per square feet in October 2021, Rs 2,300 per sq ft in October 2022, Rs 2,500 per sq ft in October 2023 and Rs 2,780 per square feet in October 2024. Colliers India said these are average costs for a Grade A residential building of 15 floors. The data pertains to tier-I cities. Over the last one year, the consultant said the average cost of construction of housing projects rose 11 per cent due to a significant surge in labour costs coupled with a moderate price increase in construction materials like sand, brick, glass, wood etc. Notably, the cumulative effec

Godrej Properties secures 3 plots in Mumbai for Rs 3,500 cr housing project

Realty firm Godrej Properties Ltd has won bids to acquire 3 adjoining plots totalling 6.5 acres in Mumbai Metropolitan Region (MMR) to develop a housing project with a revenue potential of Rs 3,500 crore. In a regulatory filing on Wednesday, the company informed that it has "emerged as the highest bidder to develop a group housing project at a premium location in Sector 5-A, Kharghar according to the e-auction portal of City and Industrial Development Corporation of Maharashtra (CIDCO)." The plots, measuring 6.54 acres, will offer a development potential of around 2 million square feet, with an estimated combined revenue potential of around Rs 3,500 crore, it added. The company did not disclose the deal value of these 3 adjoining land parcels. Gaurav Pandey, MD & CEO, Godrej Properties, said, "Our entry into the Kharghar micro-market aligns well with our strategy of strengthening our portfolio across the key real estate markets in India." Godrej Properties continues to acquire ...

Godrej acquires 6 land parcels to develop Rs 9,650 cr housing projects

Realty firm Godrej Properties acquired six new land parcels in the July-September quarter to develop housing projects worth Rs 9,650 crore as part of its expansion plan amid strong demand. Godrej Properties is one of the leading real estate developers in the country. It has a significant presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. To expand the housing business, Godrej Properties acquires land through outright purchases as well as forming partnerships with landowners for joint development. In its latest operational updates for the July-September quarter, Godrej Properties said it has added 8 new land parcels in the first six months of this fiscal with a total estimated saleable area of about 11 million square feet and total estimated booking value potential of around Rs 12,650 crore. This included the addition of 6 new land parcels in the second quarter of this fiscal with an expected booking value of Rs 9,650 crore. Godrej Properties said it has .

NeoLiv buys 12 acre land at Alibaug to develop Rs 400 cr housing project

Realty firm NeoLiv has bought 12-acre land at Alibaug near Mumbai to develop a luxury housing project with a sales potential of around Rs 400 crore. The company did not disclose the land deal value and name of the seller. In a statement on Wednesday, NeoLiv announced the acquisition of 12 acres of prime land in Alibaug, marking the company's foray into the highly sought-after Mumbai Metropolitan Region (MMR) market. "The development with an option to extend to 20 acres and projected gross value of more than Rs 400 crore will offer an exceptional mix of premium villas and plots," it said. NeoLiv founder and CEO Mohit Malhotra said this acquisition represents a significant milestone for the company. "Backed by UHNI investors through our SEBI-approved fund and led by a highly experienced team with over 100 years of combined expertise, we are committed to delivering exceptional living experiences that will set new benchmarks for residential developments," Malhotra said. Alibaug, kno