Page 5 - Housing Sector

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 ..

Top 8 housing markets see 5% annual sales dip in Sep quarter: PropTiger

Housing sales declined 5 per cent in the July-September quarter across the top eight cities due to a fall in new supply and sharp appreciation in prices, according to PropTiger. Real estate brokerage platform PropTiger.com, which is part of Australia's REA group that owns Housing.com, on Tuesday, released its report 'Real Insight' on India's residential market. A total of 96,544 units were sold in July-September, down 5 per cent from 1,01,221 units sold during the same period in 2023. The number of new residential units launched in the top 8 markets fell 25 per cent to 91,863 units from 1,23,080 units. PropTiger pointed out that a sharp increase in home prices, averaging a nearly 20 per cent increase across the top eight cities, impacted affordability. As per the data, housing sales rose only in Delhi-NCR and declined in the other seven major cities. Delhi-NCR saw a 29 per cent growth in sales to 10,098 units during July-September from 7,800 units in the year-ago period. However

Housing sales rise 5% across top 8 cities in July-Sept: Knight Frank

Housing sales rose 5 per cent annually during July-September to 87,108 units in eight major cities as demand stayed strong for premium homes, according to Knight Frank India. Real estate consultant Knight Frank India on Thursday released its report 'India Real Estate' for the third quarter of 2024 calendar year through a webinar, showing a modest increase in housing sales in contrast to data provided by Anarock and PropEquity which reported drop in total sales during July-September across major cities. "Momentum in the residential market has trended up well in 2024 with Q3, 2024 recording the highest quarterly sales this year at 87,108 units," the report said. Addressing a virtual press conference, Knight Frank India CMD Shishir Baijal said, the growth in housing sales is driven by demand for premium housing costing above Rs 1 crore each. "There are concern in affordbale housing segment," Baijal said, adding that sales in this category have declined due to availability and ...

Ashiana Housing bets on senior housing facilities to drive profit

Improving life expectancy is expected to drive the share of senior citizens in India's 1.43 billion population to 13 per cent by 2030 from 11 per cent currently, according to a Colliers report

Housing prices in Delhi-NCR, Bengaluru jump 29% in July-Sept: Anarock

Housing prices in Delhi-NCR and Bengaluru appreciated 29 per cent year-on-year in the July-September quarter on strong demand, high input cost and an increase in the supply of luxury homes, according to Anarock. Real estate consultant Anarock's data showed that the average prices of residential properties in Delhi-NCR increased 29 per cent to Rs 7,200 per square feet in the July-September quarter from Rs 5,570 per square feet in the year-ago period. In Bengaluru, the prices grew 29 per cent to Rs 8,100 per square feet in the third quarter of this calendar year from Rs 6,275 per square feet in the corresponding period of the previous year. Hyderabad saw the maximum 32 per cent rise in prices to Rs 7,150 from Rs 5,400 per square feet. The average Housing prices in the Mumbai Metropolitan Region (MMR) rose 24 per cent to Rs 16,300 from Rs 13,150 per square feet. Pune witnessed a 16 per cent increase in prices to Rs 7,600 from Rs 6,550 per square feet, while Chennai saw a 16 per cent

Housing sales dip 11% in third quarter of CY24 in top 7 cities: Report

Market stabilising and 'demand-supply equation robust', says property consulting company ANAROCK

378 housing projects with 146,000 units stalled in 5 UP cities: PropEquity

Five major property markets in Uttar Pradesh, including Noida and Greater Noida, have 378 stalled housing projects, comprising nearly 1.46 lakh units, according to PropEquity. Real estate data analytic firm PropEquity data showed that as many as 378 housing projects comprising 1,45,880 units are stalled across Noida, Greater Noida, Ghaziabad, Lucknow and Agra in Uttar Pradesh. As per the data, Greater Noida has 167 stalled projects with 74,645 units. Noida has 103 stalled housing projects comprising 41,438 units, while Ghaziabad witnessing 50 stalled projects with 15,278 units. Noida, Greater Noida and Ghaziabad are important property markets in the Delhi-NCR. Lucknow -- the capital of Uttar Pradesh -- too has 48 stalled housing projects comprising 13,024 units. Agra property market has 10 stalled projects with only 1,495 units. Overall, PropEquity data showed that 1,981 residential projects are stalled across 42 cities, totalling 5.08 lakh units. Of these stalled projects, as

Ashiana Housing sells properties worth Rs 403.49 cr in Gurugram project

Realty firm Ashiana Housing has sold 168 apartments for Rs 403.49 crore in its residential project in Gurugram on strong consumer demand. In a statement on Wednesday, Ashiana Housing Ltd said that the company has sold 168 apartments in the fourth phase of its kid-centric project 'Ashiana Amarah'. "On Day-1, 168 out of a total of 280 units in Phase 4 have been booked, representing a remarkable sale value of Rs 403.49 crore. The total saleable area for Phase 4 covers 4.95 lakh square feet, featuring premium 3 BHK units," it added. The total project is spread over 22 acres. "The successful booking of 168 units out of 280 within such a short span highlights the growing appeal of our kid-centric homes. Our commitment to creating family-friendly environments that foster the growth and development of children continues to resonate strongly with our customers," Ankur Gupta, joint managing director of Ashiana Housing, said. Ashiana Housing Ltd, established in 1979, has a presence across 9

Murdoch's REA considering bid for UK housing property portal Rightmove

Shares of REA dropped 5.3 per cent in Sydney, the most since December 2022, on Monday amid concerns that it may have to issue stock to fund a deal

All-India house price index moderates to 3.3% in Q1FY25: RBI data

The all-India House Price Index (HPI) moderated to 3.3 per cent in the June quarter of 2024-25 from 5.1 per cent in the year-ago period, according to data released by the Reserve Bank of India on Friday. The RBI releases HPI-based on transaction-level data received from the registration authorities in 10 major cities. The cities are Ahmedabad, Bengaluru, Chennai, Delhi, Jaipur, Kanpur, Kochi, Kolkata, Lucknow and Mumbai. "All-India HPI increased by 3.3 per cent (y-o-y) in Q1:2024-25 as compared to 4.1 per cent growth in the previous quarter and 5.1 per cent a year ago; annual HPI growth varied widely across the cities - ranging from a high of 8.9 per cent (Kolkata) to a low of (-)1.7 per cent (Delhi)," the central bank said. On a sequential (quarter-on-quarter) basis, all-India HPI increased by 1.8 per cent in the first quarter of 2024-25. Among the ten cities, nine (Mumbai, Delhi, Bengaluru, Lucknow, Kolkata, Chennai, Jaipur, Kanpur and Kochi) recorded a rise in house prices duri

NeoLiv ties up with Royal Green Realty to develop Rs 600 cr housing project

Real estate firm NeoLiv has tied up with Royal Green Realty to jointly develop a 20-acre housing project at Kundli-Sonipat in Haryana with an estimated revenue potential of more than Rs 600 crore. The company on Tuesday announced its entry into the North India market through a joint development partnership with Royal Green Realty. The residential project, located in Kundli-Sonipat Master Plan, will be spread over a 20-acre area. "The 20-acre development with a gross development value of Rs 600 crore+ will feature premium villas, independent floors, custom-designed plots and an internationally designed clubhouse," NeoLiv said in a statement. Mohit Malhotra, Founder and CEO of NeoLiv, said, this acquisition represents a significant milestone for NeoLiv, as we announce our first project in the NCR region. "Backed by UHNI (ultra high net worth individual) investors through our SEBI-approved fund and led by a highly experienced team with over 100 years of combined expertise, we are ...

Fuelled by high demand, QTS level in India at a historic low: Knight Frank

The demand for luxury homes continues to drive the Indian residential market, but the affordable segment is shaky

Keystone Realtors eyes 32% growth in housing sales this year: CMD

Keystone Realtors has set a target of 32 per cent growth in its sale bookings this fiscal to Rs 3,000 crore on strong housing demand and is hopeful of crossing this number, its Chairman and Managing Director Boman Irani said. Keystone Realtors, which sells its properties under Rustomjee brand, is one of the leading real estate developers in the country with a significant presence in Mumbai Metropolitan Region (MMR). In an interview with PTI, Irani -- who is also president of realtors' apex body CREDAI -- noted that the demand in the housing market continues to be strong, encouraging the company to invest more in land acquisition and construction activities. "We have a dry powder of around Rs 3,000 crore to make investments for growth. We raised Rs 800 crore from qualified institutional placement (QIP) plus our internal cash flow," he said. Asked about the sale bookings outlook, Irani said, "We are targeting to achieve Rs 3,000 crore pre-sales this fiscal. We will cross that ...

Nearly 2,000 housing projects stalled across 42 cities: PropEquity

Nearly 2,000 housing projects comprising 5.08 lakh units are stalled across 42 cities in the country, mainly due to financial mismanagement by developers and lack of execution capabilities, according to data analytic firm PropEquity. As per the PropEquity data, there are 1,981 residential projects that are stalled totalling 5.08 lakh units. Of these stalled projects, as many as 1,636 projects totalling 4,31,946 units are in 14 tier I cities, while 345 projects totalling 76,256 units are in 28 tier II cities. It also pointed out that the number of stalled units rose to 5,08,202 from 4,65,555 units in 2018. Samir Jasuja, Founder and CEO at PropEquity said, "The problem of stalled projects and the subsequent rise is due to the lack of execution capabilities of developers, cash-flow mismanagement and diversion of funds to buy new land banks or retire other loans." He stressed on the need to provide independent third-party audit services for homebuyers to empower them to make an informe