Housing Sector

Arvind SmartSpaces to develop new township in MMR, eyes Rs 1,500 cr revenue

Realty firm Arvind SmartSpaces Ltd has entered into a joint development agreement to build a 92-acre township with an estimated revenue potential of Rs 1,500 crore. In a regulatory filing on Friday, the company said it has signed an agreement for a large horizontal, multiuse project in Mumbai Metropolitan Region (MMR), "with a total estimated area of 92-acre and a top-line potential of Rs 1,500 crore." The company has tied up with Sach Developers to build this township, located near Khopoli, Mumbai. The project is signed under a joint development model (70.5 per cent revenue share) enabling low capital intensity and higher returns. Kamal Singal, Managing Director and CEO, Arvind Smartspaces said, "We are happy to announce our entry into the Mumbai real estate market, marking a significant milestone in our growth journey. We are confident of the large opportunity the MMR plotted/villa market presents and look forward to bring our horizontal value proposition there." He said the ent

Housing sales drop 9% in 9 major cities to 471k units in 2024: PropEquity

Housing sales across nine major cities dropped 9 per cent to nearly 4.71 lakh units in 2024 on lower demand as well as fall in fresh supply, according to PropEquity. Data analytics firm PropEquity, part of listed entity P E Analytics, on Wednesday released the housing data for nine major cities namely Bengaluru, Chennai, Hyderabad, Kolkata, Delhi-NCR, Mumbai, Navi Mumbai, Pune and Thane. As per the data, the sales of residential properties declined 9 per cent to 4,70,899 units during 2024 from 5,14,820 units in the preceding year. New supply fell 15 per cent to 4,11,022 units in 2024 on the back of two quarters of under-activity due to general elections and monsoon. Samir Jasuja, CEO & Founder, PropEquity said, "The drop in housing supply and sales in 2024 is due to the high base effect, as 2023 was a peak year." "A detailed analysis of the numbers reveals that despite the drop, the supply to absorption ratio in 2024 remains the same as 2023 which indicates that the fundamentals .

Sales of homes priced below Rs 50 lakh fall 14% in 2024 in 7 cities: JLL

Sales of apartments, costing less than Rs 50 lakh each, fell 14 per cent to 38,626 units in 2024 across seven major cities on lesser launches of affordable housing projects and rising prices, according to JLL India. Real estate consultant JLL India data showed that sales of apartments across seven major cities during 2024 witnessed sustained growth, reaching a record-high volume of 3,02,867 units, up 11 per cent from 2,71,818 units in the preceding year. The seven cities are Mumbai (including Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai), Delhi-NCR (including Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, Faridabad and Sohna), Bengaluru, Pune, Chennai, Hyderabad and Kolkata. The data includes only apartments. Rowhouses, villas, and plotted developments are excluded from the JLL India analysis. Among different price categories, sales of apartments costing less than Rs 50 lakh each fell to 38,626 units from 45,160 units. In the Rs 50 lakh1 crore price category, the s

New home prices in China flat for first time in 18 months after govt push

Beijing rolled out a slew of measures in the second half of last year to stabilise the real estate market, including cutting mortgage rates and allowing local governments to buy unsold housing units

LA rental hits nearly $40,000 a month as fires swirl housing market

Since evacuees are naturally looking for residences close to their burned properties, the competition is fiercest in areas that were already tight

Gaurs Group's pre sales up at Rs 4,800 cr in Apr-Dec 2024 on strong demand

Realty firm Gaurs Group has reported around 4-time jump in its sale bookings to Rs 4,786 crore during the April-December period of this fiscal on strong demand for its residential properties in Delhi-NCR. With strong performance in the first nine months of this fiscal, Gaurs Group now figures among the top real estate developers, including both listed and non-listed firms, in the country in terms of sale bookings. The robust performance is largely attributed to the successful launches of two luxury projects, including Gaur 'NYC Residences' located at Wave City, Delhi-Meerut Expressway, and Legacy by Gaurs in Greater Noida, the company said. Sarthak Gaur, Director of Gaurs Group, said, "The remarkable turnover of Rs 4,786 crore in the first three quarters of 2024-25 is a testament to the strength of our portfolio. Completely selling out 2 projects one after the other in a matter of 2-3 days is no mean achievement and we are very proud to be in that league." Manoj Gaur, Chairman and

Max Estates sells luxury residential properties worth Rs 845 cr in Noida

Realty firm Max Estates Ltd on Friday said it has sold luxury residential properties worth Rs 845 crore in Noida amid strong demand. In a regulatory filing, Max Estates said its subsidiary Max Estates 128 Pvt Ltd has successfully launched the second phase of its residential project 'Estate 128' in Noida. "Building on the success of the first phase, the second phase has achieved a pre-sales booking value of Rs 845 crore within a week of its launch, and has surpassed the company's original guidance of Rs 800 crores as the booking value potential for this phase," Max Estates said. The company did not disclose the number of units it has sold for Rs 845 crore and the price per apartment. The project, combining both phases, now comprise four towers with 268 units, spanning 10 acres and a total booking value of about Rs 2,700 crore. Max Estates said it has already achieved a booking value of about Rs 5,000 crore in the first nine months of 2024-25. This performance is well within the ...

Goldman Sachs sees Nifty at 27K in 2025, bets on housing, defence stocks

Analysts identified 16 'oversold' stocks, each down over 20%, including Trent, IndiGo, Shriram Finance, and Havells, suggesting they present strong buying opportunities

Silver lining: How senior living market is redefining retirement in India

The first of a four-part series on the silver economy focuses on luxury housing projects developed with seniors in mind

Realty, infra firms say CRR cut positive for sector, will infuse liquidity

RBI's decision will enable banks to have more funds to lend, they say

Signature Global eyes taking over Noida's stalled projects to expand biz

Realty firm Signature Global is looking for land in Noida and Greater Noida to expand the business and will explore taking over stalled housing projects as well provided there are no legacy litigations. Signature Global, which got listed in 2023, has a significant presence in the Gurugram market of Delhi-NCR. In an interview with PTI, Signature Global founder and Chairman Pradeep Aggarwal said, "We want to expand our business in Delhi-NCR beyond the Gurugram market. We are looking for land parcels in Noida, Greater Noida and Yamuna Expressway." The company will participate in land auctions conducted by development authorities of these three regions, he added. That apart, Aggarwal said, "We are also looking to take over stalled housing projects in Noida. The Noida authority has come up with a co-development policy to revive stalled projects. A couple of projects have been approved under this new policy." Aggarwal, however, said the company will take over stalled housing projects,

Senior housing boom: South Indian cities drive 60% of market growth

South India is emerging as the hub for living projects for the older population, accounting for 60 per cent of total market share, north Indian cities comprise just 20 per cent, the west holds 16 per

Home registration up 6% to 8,128 units in Noida, Greater Noida in Q2: Study

Registration of residential properties in Noida and Greater Noida rose 6 per cent during the July-September period to 8,128 units, according to Square Yards. As many as 7,693 units were registered in Noida and Greater Noida in the year-ago period. In a statement on Monday, real estate consultant Square Yards said a total of 8,128 transactions were registered in Noida and Greater Noida in the September quarter of 2024, representing a 6 per cent year-on-year (YoY) increase. Greater Noida leads the rally, accounting for 62 per cent of these transactions between July and September 2024. Registration of homes in Noida increased 15 per cent to 3,127 units from 2,720 units, while Greater Noida saw a marginal 1 per cent increase to 5,001 units from 4,973 units during the period under review. "The combined registered home sales value for Noida and Greater Noida rose to Rs 6,328 crore, marking a substantial 34 per cent YoY growth," the consultant said. "Noida and Greater Noida's residentia

Realty cos raise over Rs 12,800 cr between Jan-Sept 2024 via QIPs: Report

17% of total funds raised through QIPs in 9 months of 2024 went to real estate firms. Renewable energy tops the list

Hudco Q2 results: PAT grows 52% to Rs 689 cr, income at Rs 2,526 cr

Housing and Urban Development Corporation Ltd (HUDCO) on Tuesday reported a 52 per cent increase in consolidated net profit to Rs 688.62 crore for the September quarter. Its net profit stood at Rs 451.65 crore in the year-ago period. The company's total income rose to Rs 2,526.14 crore in the second quarter of this fiscal year from Rs 1,880.85 crore in the corresponding period of the preceding year, according to a regulatory filing. Housing and Urban Development Corporation Ltd (HUDCO) is a premier techno-financing public sector enterprise, in the field of housing and infrastructure development.

Arkade Developers to invest Rs 570 cr on new luxury project in Mumbai

Realty firm Arkade Developers Ltd will invest Rs 570 crore to develop a luxury real estate project in Mumbai. The project "Arkade Rare" is spread over 3 acres and located at Bhandup West in Mumbai. The company will develop 432 residential units along with 43 commercial units. "The total construction area is approximately 7,25,000 square feet which will be developed in a single phase with an estimated sales value of Rs 760 crore," the company said in a regulatory filing on Monday. Amit Jain, Chairman and Managing Director, Arkade Developers Limited said the company is expanding its presence in the eastern suburbs of Mumbai. "With 'Arkade Earth in Kanjurmarg' and the under-construction 'Arkade Nest' in Mulund West, we're building a strong pipeline in this corridor. Arkade Rare in Bhandup West further solidifies our commitment to developing luxury, community living projects within the Kanjur-Bhandup-Mulund corridor," Jain added. Arkade Developers recently got listed on stock exchange

Truth about India's realty prices: Underperfoming amid lofty projections

Global housing markets are appreciating much better

Arvind SmartSpaces to develop Rs 600 cr worth housing project in Bengaluru

Realty firm Arvind SmartSpaces Ltd will jointly develop a housing project in Bengaluru with a revenue potential of Rs 600 crore. In a regulatory filing, the company said it "has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of around 4.2 lakh square feet and a top-line potential of around Rs 600 crore." This project is located on ITPL road, near Whitefield, Bengaluru. The project is undertaken on a joint development basis. This would be the company's 12th overall and eighth high-rise project in Bengaluru. "Brand 'Arvind' continues to resonate strongly with homebuyers and landowners alike, as we look to further deepen our presence in the Bangalore market," Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said. "With this project addition, our cumulative new business development topline potential for the year stands at Rs 1,010 crore," he added. Built on around 120-year-old legacy of the Lalbhai Group and established in

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

Signature Global Q2 bookings jump nearly 3-fold on strong housing demand

Realty firm Signature Global has achieved a nearly three-fold increase in its sale bookings to Rs 2,780 crore during the second quarter of this fiscal year on better demand for its housing projects. Its sale bookings or pre-sales stood at Rs 980 crore in the year-ago period. "Despite the Shradhh period, Q2, FY25 pre-sales amounted to INR 27.8 billion, a 184 per cent increase against the Q2, FY24," Signature Global said in a regulatory filing on Tuesday. The company's sale bookings jumped over three-time to Rs 5,900 crore in the April-September period of 2024-25 fiscal from Rs 1,860 crore in the corresponding period of the preceding year. Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of Rs 7,270 crore in the 2023-24 fiscal and has given a target of Rs 10,000 crore for the current fiscal. "As we move forward, we're confident in maintaining this momentum and building on our shared achievements," its Chairman Pradeep Kumar Aggarwal ..