Page 6 - Housing

Digital property: Proptech startups are gearing up to ride the AI wave

From property listings and transactions, to their management, and development, proptech startups are now present in various aspects of the realty sector

Luxury is a small percentage of any developer's portfolio: Tariq Ahmed

Technology also enables home management through applications, including automation, guest access, and security. These are the key themes and trends we are seeing in terms of what people want

Smart landing: What to keep in mind when investing in real estate

While prices remained stagnant (2015 to 2021), incomes rose, enhancing affordability. This bodes well for the housing sector in a country facing a shortage of 20 million houses

Unsold homes in Delhi-NCR drop 57% in last 6 years to 86,420 units in Q4

The unsold housing stock in Delhi-NCR has declined 57 per cent in the last six years to 86,420 units at the end of March quarter this year, according to Anarock. Real estate consultant Anarock said in its latest report that NCR's unsold stock declined from 2,00,476 units at the end of the March 2018 quarter to 86,420 units as of March 31, 2024. In the same period, the main southern cities (Bengaluru, Hyderabad and Chennai) saw their unsold stock decline from 1.96 lakh units in Q1 2018 to over 1.76 lakh units in Q1 2024. Santhosh Kumar, Vice Chairman of Anarock, said, "What really worked for the NCR market was developers' determination to keep new supply addition under control". Quoting Anarock's data, he said the NCR witnessed a total new supply of about 1.81 lakh units between Q1 2018 to Q1 2024. In contrast, southern and western markets witnessed significantly higher new supply additions of about 6.07 lakh units and 8.42 lakh units, respectively. As per the data, the unsold hou

China's housing rescue is too small to end ongoing crisis, say analysts

The decline in China's sales of new homes accelerated in recent months, with households increasingly preferring to buy in the secondary market

Signature Global aims to sell Rs 10,000 cr worth homes in FY25, up 38%

Realty firm Signature Global Ltd has set a target to sell housing properties worth Rs 10,000 crore in 2024-25, up 38 per cent from the last fiscal, as it expects demand for residential assets to remain strong. In its investors presentation, the company has given a guidance of Rs 10,000 crore for sales bookings in the current fiscal. The company's sales bookings more than doubled to Rs 7,268 crore in 2023-24 from Rs 3,430 crore in the preceding year. The company, which is mainly developing projects at Gurugram in Haryana, sold 4,619 units last fiscal as against 4,512 units in 2022-23. In terms of area, Signature Global sold 6.18 million square feet in 2023-24, up from 4.35 million square feet in the preceding years. Sales realisation for 2023-24 averaged Rs 11,762 per square feet compared to Rs 7,886 per square feet in the previous fiscal. Pradeep Kumar Aggarwal, Chairman of Signature Global, said, "The financial year 2023-24 marked a significant period for our company, characteri

Global housing shortages hinder immigration-driven growth across world

For decades, the rapid inflow of migrants helped countries including Canada, Australia and the UK stave off the demographic drag from aging populations and falling birth rates

Investment in housing segment jumps over 3 times to Rs 5,743 crore: C&W

Investments in residential real estate jumped more than three times in January-March to Rs 5,743 crore, contributing 63 per cent to the overall inflow in the real estate sector, according to Cushman & Wakefield. In its capital markets report released on Wednesday, real estate consultant Cushman & Wakefield highlighted that the investments in real estate rose to Rs 9,124 crore during the first quarter of the current calendar year from Rs 8,830 crore in the year-ago period. Of the total investment, the inflow in the residential segment jumped to Rs 5,743 crore from Rs 1,735 crore. In the office assets, the investments grew marginally to Rs 2,248 crore from Rs 2,180 crore. However, the investments in mixed-use projects fell to Rs 865 crore from Rs 1,645 crore. The Industrial & Logistics segment, too, witnessed an inflow of Rs 268 crore, a sharp fall from Rs 2,170 crore in the first quarter of 2023. Hospitality projects did not garner any interest from investors during ...

All 224 flats in Gurugram project sold in 15 mins for Rs 440 cr: Ashiana

Realty firm Ashiana Housing on Saturday said it sold 224 luxury flats in Gurugram for Rs 440 crore within 15 minutes of its launch. The project is located at Sector 93 in Gurugram, Haryana. In a statement, the company said it has "sold out the entire phase 3 of its prestigious project, Ashiana Amarah within 15 minutes of launch". "We are very happy with the incredible response to Ashiana Amarah phase 3 launch. We started registration at 11 am and we had received 800 cheques for 224 units by 11.15. In 15 minutes it was oversubscribed four times," Ashiana Housing Joint Managing Director Ankur Gupta said. He attributed the oversubscription to the company's brand value and execution track record. "Our novel kid-centric concept is also working. People want their children to be brought up in better places, with better amenities and quality of life and that is what Amarah is promising. "So there is a lot of excitement in the market. Ashiana is also planning to launch phase 4 in the comi

Lok Sabha elections: Will housing market create another peak in 2024?

Anuj Puri, Chairman of ANAROCK Group, attributes the market performance in the election years of 2014 and 2019 to the decisive election outcomes

SWAMIH allocates Rs 160 cr to Stans Buildtech Homes for stalled project

Government-backed stress fund SWAMIH has provided Rs 160 crore to Stans BuildtechHomes for the completion of a stalled housing project in Mumbai. In a statement on Thursday, real estate consultant Colliers India said the company assisted Stans Buildtech Homes in securing financing of Rs 160 crore from SWAMIH Fund for its SRA (Slum Rehabilitation) project 'Sky Annex', located in Chembur. To provide relief to customers who have booked houses in stalled projects, the government has established a SWAMIH (Special Window for Completion of Affordable and Mid-Income Housing) investment fund, managed by SBICAP Ventures. "A legacy of issues involving tenants, flat buyers, approvals, and lack of suitable financing to meet requirements led to the project being stalled, and is now set to resume, following the deal," Colliers said. According to sources, the project, spread over 1 acre and comprising more than 400 units, was launched in 2015 by Hilton Developers. In 2016, Stans Buildtech entered

Avg housing prices up 20% in last two years across 8 major cities: Report

Average housing prices rose by around 20 per cent in the last two years across the top eight cities on rising demand, according to a report by CREDAI, Colliers and Liases Foras. These eight cities include- Ahmedabad, Bengaluru, Chennai, Delhi NCR, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), and Pune. In a joint statement on Wednesday, realtors' body CREDAI, real estate consultant Colliers and data analytic firm Liases Foras said that "prices across the top eight cities in India surged by about 20 per cent in the last two years (2021-2023)." Bengaluru, Delhi NCR, and Kolkata have witnessed the highest rise in average housing prices at about 30 per cent in 2023 compared to 2021 levels, it added. "The current state of real estate is the most productive when sales, supply, and prices are growing, and the price rise is not speculative. These factors work in harmony in a balanced and healthy real estate market, said Pankaj Kapoor, Managing Director, Liases Foras.

Ashiana Housing Q3 results: Profit jumps three-fold to Rs 28 crore

Realty firm Ashiana Housing has reported a more than three-fold jump in its consolidated profit after tax to Rs 27.8 crore for the quarter ended December on better income amid surge in demand for residential properties. Its profit stood at Rs 9.05 crore in the year-ago period. Total income rose to Rs 189.25 crore during the October-December period of this fiscal from Rs 135.31 crore in the corresponding period of the previous year, according to a regulatory filing on Monday. Ashiana Housing's profit after tax increases sharply to Rs 66.02 crore during the April-December period of this fiscal year from Rs 17.50 crore in the year-ago period. Total income increased to Rs. 669.56 crore in the first nine months of this fiscal from Rs 308.25 crore in the corresponding period of the previous year. Delhi-based Ashiana Housing is one of the leading real estate firms in the country. It has a presence in Gurugram, Jaipur, Pune, Jamshedpur, Bhiwadi, Jodhpur and Chennai. The company is mainly

Gujarat Assembly clears supplementary demands for grants worth Rs 7,500 cr

The Gujarat Assembly on Thursday approved supplementary demands for grants worth over Rs 7,500 crore which were incurred as additional expenditure during the financial year of 2023-24. Tabling the demands, Finance Minister Kanubhai Desai said additional funds were allocated beyond budgetary provisions to carry out pro-people work like building houses for tribals and lay new roads as well repair existing ones under the Mukhya Mantri Gram Sadak Yojana'. The minister said it is the government's resolve to provide houses to everyone. The government had initially allocated Rs 163 crore to build houses for tribals under the 'Pradhan Mantri Awas Yojana', he said. But, to cover the maximum number of beneficiaries, we had allocated an additional budget of Rs 821 crore. We have also increased scholarships for tribal students, which led to extra expenditure, said Desai. In all, the finance minister sought permission of the House for an additional expenditure of over Rs 7,500 crore spent by ..

Demand to rise as Budget proposes to help middle-class buy homes: Realtors

Realtors on Thursday hailed the Budget proposal of launching a scheme to help middle-class people buy or build their own homes, saying this will boost demand for residential properties and help in the overall growth of the real estate sector. In the interim Budget for 2024-25, Finance Minister Nirmala Sitharaman announced that the government will launch a scheme to help deserving sections of the middle class 'living in rented houses, or slums, or chawls and unauthorised colonies' to buy or build their own houses. She also said 2 crore more homes will be built for the rural poor in the next five years under the continuing PM Awas Yojana (Grameen). Commenting on the Budget proposals, CREDAI President Boman Irani said these initiatives are "encouraging and will aid in the growth of the housing market". Sustained focus on infrastructure development will further boost growth in the housing sector, he said. With tax rates remaining unchanged, Irani said the common man will not have ...

Affordable housing co SMFG Grihashakti secures Rs 300 crore from NHB

Affordable housing finance company SMFG Grihashakti on Tuesday said it has secured Rs 300 crore funding from the National Housing Bank (NHB). This is the company's maiden long-term loan from the NHB and it opens up an additional avenue for long-term, low-cost funding, it said, adding that the money will help it expand its financing solutions to the underserved population, SMFG Grihashakti Chief Executive Deepak Patkar said. As of December 2023, it had Assets Under Management (AUM) of Rs 8,028 crore, which grew 37 per cent year-on-year. SMFG Grihashakti provides home loans, loan for home improvements, home construction and extension, loan against properties, and for purchasing of commercial properties, apart from project construction financing.

Chhattisgarh CM chairs 1st cabinet meet, promises 1.8 mn houses under PMAY

Sai took the oath of office and secrecy as the chief minister of Chhattisgarh in the presence of Prime Minister Narendra Modi on Wednesday

Saya Group to infuse Rs 4,000 cr in next 3 yrs in Noida, Ghaziabad projects

Real estate company Saya Group on Sunday said it will infuse Rs 4,000 crore over the next three years in its projects in Noida, Greater Noida and Ghaziabad. The development includes 2.33 million square feet commercial area where it will invest Rs 2,500 crore besides Rs 1,500 crore in luxury high-end residential project in Ghaziabad's Indirapuram. The group said at the forefront of its works stands the ongoing project, Saya Status, adjacent to the Noida-Greater Expressway, which is set to be India's tallest mall and encompasses a vast expanse of 1.4 million square feet, according to a statement. The anticipated possession of Saya Status is slated for 2025, it added. Saya Group's Chairman and Managing Director Vikas Bhasin claimed an "impeccable track record of delivering projects ahead of their designated deadlines." "This remarkable feat is a testament to the company's robust financial foundation and unwavering commitment to timely project delivery," Bhasin said. The group's land

China housing gloom worsens as prices decline further, most in eight years

New-home prices in 70 cities, excluding state-subsidized housing, declined 0.38% last month from September, when they dropped 0.3%, National Bureau of Statistics figures showed

Bharat Housing Network raises Rs 125 crore in Series A led by Nabventures

Bharat Housing Network, backed by Homeville Consulting, operates on a hybrid capital model and off-balance sheet lending to drive its growth