Page 3 - Property Deals

Ichnos Sciences, Astria Therapeutics sign licensing deal for OX40 portfolio

Ichnos is set to receive $320 million upfront for development, regulatory and sales payments, coupled with low double-digit royalties

NoBroker brings metro station-based property search option for home seekers

The metro-based property search feature allows users to find homes along metro lines close to their workplace

REA India's revenue up 46% to Rs 430 cr amid sharp rise in housing demand

Proptech firm REA India -- owner of Housing.com and PropTiger -- said its revenue has increased 46 per cent to more than Rs 430 crore in the last fiscal year ended June on sharp rise in housing demand and increased adoption of technologies. The company had posted nearly Rs 300 crore revenue in the 2021-22 financial year (July-June). REA India, which is a subsidiary of Australia's REA Group, is a full-stack real estate technology firm and it owns three real estate portals -- Housing.com, PropTiger and Makaan.com. The bulk of the revenue came from Housing.com, one of the leading real estate classified portals in India. "REA India Ltd's strong results demonstrates our commitment to innovation and a leading role within the market," REA India CEO Dhruv Agarwala told PTI. "Our steady efforts to enhance the reach of Housing.com and Proptiger.com demonstrate a thoughtful strategy that keeps us at the cutting edge of industry trends," he added. Agarwala said the company has been focused o

DLF sells properties worth Rs 2,040 cr in Apr-Jun; sales bookings flat

Realty major DLF sold properties worth Rs 2,040 crore during the first quarter of this fiscal, mainly driven by demand for its luxury properties in Delhi and Gurugram. The company's sales bookings remained flat on an annual basis. Its sales stood at the same Rs 2,040 crore in the year-ago period. When contacted, DLF Group Executive Director Aakash Ohri said the sales bookings remained strong during the June quarter. "We did not launch any new housing project in the first quarter. The entire sales bookings are from ongoing projects. We will bring new projects in markets in Q2 and the second half of this fiscal," Ohri told PTI. According to an investor's presentation, DLF sold 13 units in 'The Camelias' housing project in Gurugram for Rs 564 crore. The company sold properties worth Rs 659 crore in the 'One Midtown' project in the national capital. On Friday, DLF reported a 12 per cent rise in consolidated net profit to Rs 527 crore in the first quarter of this fiscal. The company

Unsold housing stock drops 21% in Delhi NCR in April-June quarter: Anarock

It is the steepest drop of available stock among the top seven cities in India

Momentum in Indian realty market hasn't slowed in past 10 yrs: BCD group MD

In a Q&A, Angad Singh Bedi talks about this entry into the business of stressed assets, and his rental project for the elderly, among other things

Realtors hopeful of sustaining strong sales with RBI keeping rate unchanged

India's housing market will continue to witness higher sales velocity with the RBI keeping key interest rate unchanged, real estate industry experts said while hoping for a repo rate cut in the next round of monetary policy to boost growth. The Reserve Bank of India (RBI) on Thursday decided to keep the repo rate unchanged at 6.5 per cent. Commenting on the development, realtors' body CREDAI National President Boman Irani said, "... We expect both housing supply and demand to sustain its ongoing momentum." "However, given that the inflation is at an 18-month low, there is scope for the RBI to reduce repo rates in the upcoming MPC meetings, to stimulate growth across all industries," Irani added. Real estate industry body Naredco's President Rajan Bandelkar hailed the RBI move, saying it will help the housing sector that has been performing well from the past two years. Nonetheless, he said, adding the sector needs announcements that could further fuel the growth. With the festive

Sales of residential flats up 20% across 7 cities in January-March

Real estate consultant JLL India on Wednesday said sales of apartments in January-March across seven major cities rose 20 per cent to 62,040 units, the highest quarterly sales in the last 15 years. The data includes sales of only apartments. Rowhouses, villas and plotted developments are excluded from this analysis. "The Indian residential market saw significant growth in Q1 2023 due to a combination of factors, such as government policies, infrastructure growth and robust launches," the company said in a statement. Across the top 7 cities of India, sales of residential units in January-March went up by 15 per cent compared to the previous quarter and 20 per cent against the same quarter last year, with over 62,000 units sold. "This marks the highest quarterly sales in the last 15 years, indicating increased consumer confidence," JLL said. Bengaluru is currently leading the market in terms of quarterly sales, with a 21 per cent share, closely followed by Mumbai with a 20.9 per ce

185 outsiders bought land in Jammu and Kashmir in last 3 years: Government

As many as 185 people from outside Jammu and Kashmir have bought land in the Union Territory in the last three years, Rajya Sabha was informed on Wednesday. Union Minister of State for Home Nityanand Rai, however, said as per the information provided by Ladakh, no land has been bought by outsiders in the UT. "As per the information provided by the government of Jammu and Kashmir, a total of 185 people from outside the Union Territory of Jammu and Kashmir have bought land in the UT during 2020, 2021 and 2022," he said replying to a written question. While, one person bought land in 2020, 57 bought in 2021 and 127 in 2022, he said. The Article 370, which gave special status to Jammu and Kashmir, was abrogated on August 5, 2019, and the erstwhile state was bifurcated into two UTs -- Jammu and Kashmir and Ladakh. Following the Constitutional change in October 2020, the Union Home Ministry issued a notification stating that any Indian citizen can buy land, except agricultural, in munic

Costliest property deal: Welspun's BK Goenka buys triplex for Rs 240 crore

The penthouse has been purchased in the Three Sixty West project at Annie Besant Road in Worli, Mumbai

Canada bans foreigners from buying property after surge in property prices

Canada's ban on foreigners buying residential properties took effect on Sunday after the spike in home prices since the pandemic started

Property consultant Anarock aims 37% revenue growth in FY23 to Rs 550 cr

Property consultant Anarock is targeting 37 per cent growth in revenue this fiscal to Rs 550 crore driven by rise in housing sales and income from other advisory services, its Chairman Anuj Puri said. Mumbai-based Anarock, one of the leading housing brokerage firm, had achieved a 32 per cent growth in its revenue at Rs 402 crore during the last fiscal year on account of sharp recovery in housing demand post second wave of the Covid pandemic. Anarock was established by Anuj Puri in April 2017. Before setting up his own firm, Puri had served as chairman and country head at a global property consultancy firm for 10 years. "We have set a revenue target of Rs 500-550 crore this fiscal year and we are on track. Our team is working hard to achieve it," Puri told PTI when asked about the turnover guidance for the 2022-23 financial year. Puri noted that housing market has further consolidated its growth and sales have risen sharply so far this year despite rise in property prices and increa

Gurugram: Sale, purchase banned in 18 societies over rules violation

Following violation of licence norms and non-payment of dues, including external development charges, the DTCP has banned the purchase and sale of property in 18 residential societies in Gurugram

What is an Encumbrance Certificate?

Experts advise caution in purchase of property. But how will you know if the house you are planning to buy is free of any litigation or any problem. An Encumbrance Certificate will help you in that

Sebi to auction 11 properties of Arise Bhoomi Developers on August 26

Sebi on Friday said it will auction properties of Arise Bhoomi Developers and its directors on August 26 for a reserve price of Rs 52.28 crore. The move is a part of Sebi's effort to recover investors' money. Arise Bhoomi Developers had mobilised over Rs 8 crore during 2013-14 from the public in the name of 'purchase of agricultural land' through its various investment schemes, promising them an expected sum at the end of the contract. The schemes, as per Sebi, qualified to be a CIS which requires compulsory registration from the regulator. However, the company launched the schemes without obtaining necessary approvals from the regulator. In a notice, the Securities and Exchange Board of India (Sebi) said it will auction 11 properties belonging to the company and its directors at a reserve price of Rs 52.28 crore. The auction will be conducted online in August. The properties that have been put on sale include land parcels, shop and a plot, located in Uttar Pradesh and ...

Planning to buy a new home? You should know these terms and jargons

Buying property is a massive financial decision. Here are key terms you must know if you plan to buy a home

Planning to buy a new home? Do you know these terms?

In this video, we explain key terms you must know if you plan to buy a home >

Property tycoons lose $65 bn amid China's 'common prosperity' goal

President Xi Jinping's resolve to achieve "common prosperity" is marking a watershed shift, signaling the end of China's property billionaire factory.

Get an accurate estimate of price before putting your house on the sale

Housing sales: Make it presentable, clear off dues, and have documents ready before you meet potential buyers

Top realtors getting into 'second homes' concept at leisure destinations

Realtors look to cash in on demand for such projects at leisure destinations