Page 2 - Property Deals

Buy Macrotech & Sunteck; Hold Oberoi Realty & Godrej Prop, suggests Nuvama

The analysts believe that factors like healthy leverage, an increased focus on business development, and the potential for interest rate cuts will boost sales in the city.

Property registration in Mumbai likely to rise 7% in Aug on strong demand

Registration of properties in Mumbai municipal region is likely to rise 7 per cent annually in August to around 11,650 units on strong demand, according to Knight Frank India. Citing Maharashtra government data, real estate consultant Knight Frank India said that Mumbai city (area under BMC jurisdiction) has recorded 11,631 property registrations so far in the month of August. The data is till 8.15 pm on Saturday, August 31 and the number is likely to increase slightly to around 11,650 units. In August 2023, the Mumbai city saw registration of 10,902 properties. The data pertains to registration of properties transacted in both primary (first sale) and secondary (resale) markets. The state government is expected to earn more than Rs 1,050 crore from the registration of these properties. "Sustained buyer confidence has resulted in consistent sales on monthly basis, exceeding 10,000 units for the first eight months of the year," the consultant said. Shishir Baijal, Chairman & ...

China's Evergrande subsidiary raises prospects for offshore creditors

Creditors of the Evergrande units - including Evergrande itself, if there are outstanding loans - must report details of money owed before creditor meetings

Truva raises $3 mn in seed funding led by Stellaris, aims to scale ops

Truva is a proptech firm catering to home buying and selling. Founded in 2023 by Puneet Arora, Monil Singhal, and Ankit Gupta, Truva is dedicated to delivering a seamless home-buying experience

China sees silver lining in property sector, Japan comparisons still loom

International Monetary Fund estimates fundamental demand for housing in China to average 950 million square metres over the next 10 years

Shriram Properties inks JV for housing project; eyes over Rs 250 cr revenue

Realty firm Shriram Properties Ltd has partnered with a landowner to develop a 4-acre housing project in Bengaluru with an estimated revenue potential of more than Rs 250 crore. In a regulatory filing on Tuesday, the company informed that it has signed a Joint Development Agreement (JDA) for the development of a prime 4-acre land parcel located at Yelahanka in Bengaluru. "The proposed project will comprise of 270 apartments with an aggregate saleable area of 3.8 lakh square feet. The project has aggregate revenue potential of over Rs 250 crore and is expected to be developed over the next 3 years," Shriram Properties said. The company is targeting to launch of this project during the first half of the current financial year. "This investment is in alignment with our goal of increasing our footprint within the city and also highlights our asset light approach to accelerate growth, Murali Malayappan, Chairman and Managing Director of Shriram Properties, said. This project will ...

China to announce new measures to fix its property crisis, spur growth

Housing prices in China slumped in the first four months of the year, although factory output rose nearly 7%, according to data released Friday, as the country prepares to announce fresh measures to reinvigorate its ailing property industry. Officials of the National Bureau of Statistics acknowledged that domestic demand spending by consumers and businesses remained insufficient and said the government was considering further ways to revitalize the property industry after housing prices sank 9.8% in January-April from a year earlier. Liu Aihua, spokesperson for the bureau, said that in keeping with policies set by the Communist Party leadership, there was a need to find ways to balance supply and demand, meet public expectations for high-quality housing and seize the opportunity to build a new model of high-quality development of the real estate sector. The State Council, China's Cabinet, said it would hold a news conference later Friday focusing on the property industry. China's

Beijing eases rules on multiple home purchases to fight property slump

Families who have reached the existing ownership limits will now be permitted to buy an additional home in the region beyond Beijing's fifth ring road

From clicks to bricks: Proptech startups ride the online home-buying wave

These proptech companies use technologies like AI, big data analytics, machine learning, virtual reality, and blockchain to revolutionise how properties are bought, sold, rented, financed, and managed

Real estate sector may touch market size of $1.3 trillion by 2034: Report

The real estate sector is estimated to reach a market size of USD 1.3 trillion by 2034 and USD 5.17 trillion by 2047, according to a report by realtors body CREDAI. The current market size of Indian real estate is Rs 24 lakh crore (around USD 300 billion), split between residential and commercial segments in the ratio of 80 per cent and 20 per cent, respectively, it said in a statement on Saturday. The Confederation of Real Estate Developers' Association of India (CREDAI) on Saturday released a report 'Building Viksit Bharat-Transformative role of the real estate sector in India', at its event YouthCon. According to CREDAI, Indian real estate will have a significant impact on the Indian economy in the coming years "with the sector projected to reach USD 1.3 trillion (13.8 per cent of projected GDP) by FY 2034 and USD 5.17 trillion (17.5 per cent of projected GDP) by 2047." Among the residential segment, 61 per cent of current supply is above the cost of Rs 45 lakh. The average hom

Property leasing by luxury brands in India jumped 170% in 2023: Report

Consumer preference will 'reshape retail landscape' in the country, it says

Home prices set to rise 7% on luxury property demand, finds survey

Home prices rose 4.3% in 2023, the fastest since 2018, according to Reuters calculations based on the RBI's House Price Index

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.

Sprawling bungalow in Lutyens' Delhi on the block for Rs 325 crore

Given their scarcity, JLL projects properties in Lutyens Bungalow Zone will come up for sale only once a year over the next 4 to 5 years

China's ongoing property crisis is starting to ripple across the world

The 60 Curzon residential development in Mayfair where insolvency experts from Interpath Advisory have been appointed

Property prices across 13 prime cities up 19% during Oct-Dec: Report

Property prices rose 19 per cent annually during the October-December period, according to a report by real estate platform Magicbricks. Property prices across 13 prime cities increased 18.8 per cent Year-on-Year (YoY) and 3.97 per cent quarter-on-quarter (QoQ) during October-December 2023, the report released on Tuesday said. Gurugram (32.1 per cent YoY), Greater Noida (31 per cent YoY), Noida (26.1 per cent YoY), and Hyderabad (15.8 per cent YoY) exhibited the highest appreciation during this period, it added. Based on the data of over 2 crore customers within the primary (first-time sale) and secondary (resale) residential real estate market on the Magicbricks platform, the report indicated that while demand (searches) increased 2 per cent YoY, it decreased 16.9 per cent QoQ, primarily due to rising property prices. The listings reduced 16.9 per cent YoY, with exceptions in Mumbai (4.2 per cent YoY) and Hyderabad (0.4 per cent YoY), where supply increased. "The year 2023 served

Govt planning to sell 291,000 'enemy property' shares in 84 companies

The government on Thursday said it is planning to sell over 2.91 lakh 'enemy property' shares in 84 companies to individuals and corporates in tranches as it looks to dispose of assets of individuals who had migrated to Pakistan and China. In the first tranche, the government is looking to sell about 1.88 lakh shares in 20 companies and has invited bids from 10 categories of buyers, including individuals, NRIs, Hindu Undivided Families (HUFs), Qualified Institutional Buyers (QIBs), trusts and companies by February 8, according to a public notice. Assets left behind by people who have taken citizenship of Pakistan and China -- mostly between 1947 and 1962 -- are called 'enemy property'. The proposed share sale is part of the government's initiative to dispose of "enemy property" in the country. Buyers will have to place bids for shares they wish to buy and any price quoted below the reserve price set by the government will be rejected. The reserve price will be kept confidential fro

Mumbai property registration up 4% to record 126,907 units in 2023: Report

Property registration in the Mumbai municipal area increased 4 per cent year-on-year to an all-time high of 1,26,907 units in 2023 on the back of better demand, according to Knight Frank. The registration number hit a record in 2023, beating the previous high of 1,22,035 units in the previous year, real estate consultant Knight Frank India data showed. The state government collected a revenue of Rs 10,869 crore as stamp duty in 2023, up 22 per cent from the previous year. In December, 12,255 units were registered in Mumbai city (an area under BMC jurisdiction), up 31 per cent from 9,367 units in the year-ago period. Knight Frank has compiled the data on the registration of properties from the Department of Registrations and Stamps, Maharashtra government. The data includes sales in primary (fresh) and secondary (re-sale) markets. Of the overall registered properties, residential units constitute 80 per cent. Knight Frank CMD Shishir Baijal said the demand has been driven by risin

LA's third-tallest tower Aon Center sells for 45% below 2014 price

The sale is the largest office deal this year in downtown Los Angeles, which has been among the hardest-hit US office markets since the pandemic as remote work becomes more popular

Jammu to issue notices for property source verification of NDPS convicts

In what is seen as a decisive move to combat drug trafficking in Jammu, the administration here is set to issue notices for verifying the sources of properties of those convicted under the Narcotic Drugs and Psychotropic Substances (NDPS) Act, officials said. These directives were issued to Sub-Divisional Magistrates (SDMs) by District Magistrate Sachin Kumar Vaishya during a district-level committee meeting under the Narco Coordination Centre (NCORD). SDMs should issue notices for ascertaining the sources of properties of convicts under NDPS, Vaishya said. Senior Superintendent of Police Vinod Kumar and Additional Deputy Commissioner (LO) Ansuya Jamwal, SDMs and other officers concerned were present in the meeting. Highlighting the urgency of the situation, the DM urged the SDMs to invoke the NDPS Act to combat the menace. The district magistrate discussed strategic measures to deter individuals involved in drug trafficking and stressed the importance of identifying drug hotspots