Page 6 - Real Estate Developers

PE deal value in Indian real estate down 30% from 2019-20: Anarock

Anarock report also noted that while the number of deals in FY24 increased to 49 from 48 in FY20, the aggregate deal value has decreased due to a significantly lower average deal size

Pvt equity investment in realty dips 16% in FY23-24 to $3.67 bn: Anarock

Private equity funding in the real estate sector fell 16 per cent last fiscal to USD 3.67 billion on lower interest from foreign investors, according to Anarock. In its report, Capital FLUX, real estate consultant Anarock pointed out that the private equity (PE) deals in Indian real estate have declined to USD 3,674 million in 2023-24 from USD 4,358 million in the previous year. The PE inflow in real estate stood at USD 5,138 million in 2019-20, USD 6,377 million in 2020-21, USD 4,236 million in 2021-22 financial year. "The decline in PE investments in Indian real estate has been due to lower activity by foreign investors, due to global macro-economic factors and geopolitical instability," said Shobhit Agarwal, MD & CEO of Anarock Capital. The share of foreign capital in total investments declined to 65 per cent in FY24, against 76 per cent in the previous year. As per the report, PE investments by domestic investors have increased to 29 per cent of the total capital inflows into

Indian real estate to be worth $1.5 trn by 2034 as demand soars: Report

GDP could reach $10.3 trn in 10 years, creating demand for offices and housing for all economic sections

Demand for retail space in malls, high-streets may dip 15% in 2024: CBRE

Demand for retail spaces in shopping malls and high-street locations may decline up to 15 per cent this year from a record 71 lakh square feet in 2023 calendar year with retailers being cautiously optimistic, according to CBRE. Leasing of retail spaces in shopping malls and high street locations rose 48 per cent to 71 lakh (7.1 million) square feet in 2023 across eight major cities as against 48 lakh (4.8 million) square feet during the 2022 calendar year. In its report '2024 India Market Outlook', real estate consultant CBRE has projected that the leasing of retail space is expected to sustain between 6-6.5 million (60-65 lakh) square feet in 2024. It also expects a stable supply of retail spaces on completion of numerous high-quality mall developments. Around 5-6 million (50-60 lakh) square feet of investment-grade mall space will become operational in tier-I cities, the consultant said. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, .

Prestige Group acquires 21 acres of land in Bengaluru for Rs 450 crore

The real estate group plans to build 1,800 apartments spread over 4 million square feet of area

Godrej Properties buys land in Hyderabad for Rs 1,300 cr housing project

This is the company's second land acquisition in Hyderabad, which will take the overall booking value potential added in the city to Rs 4,800 crore

Noida admin issues notices to builders over complaints from flat buyers: DM

The Gautam Buddh Nagar administration on Tuesday decided to issue notices to several real estate developers, including Mahagun, Ajnara and Migsun, over a slew of complaints from flat buyers, officials said. The district administration held a meeting with flat buyers and builders, where senior administrators and officers of the registration department were also present to discuss issues including delay in possession and registries of flats, among others. "It has been decided that notice would be issued to some builders, including Mahagun, Ajnara and Migsun, seeking their response over the complaints related to their housing projects," District Magistrate Manish Kumar Verma told PTI. "If their response is not found satisfactory then legal proceedings, including sealing of their premises, would be carried out. There have been complaints against some builders but majority of the issues discussed in today's meetings are related to these three builders," Verma said. He said Additional DM

Navigating Challenges: Atul Chordia's Leadership in the Ever-Evolving Real Estate Market

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Need to redefine affordable housing, say experts at BS IML Conclave

The discussion took place at the third edition of the India Mortgage Leadership Conclave, presented by India Mortgage Guarantee Corporation (IMGC) and Business Standard

Ex-Trump CFO faces possible perjury charge over civil fraud trial testimony

Manhattan prosecutors are weighing a potential perjury charge against Donald Trump's former corporate finance chief in connection with testimony he gave in October at the ex-president's New York civil fraud trial, two people familiar with the matter told the Associated Press. Allen Weisselberg, who had been the longtime chief financial officer of the Trump Organization, testified for two days at the trial, answering questions about allegations that Trump lied about his wealth on financial statements given to banks and insurance companies. It wasn't clear what part of Weisselberg's testimony drew the scrutiny of prosecutors in the office of Manhattan District Attorney Alvin Bragg. A decision on charging Weisselberg didn't appear imminent. Bragg's office was in the preliminary stages of discussions, internally and with Weisselberg's legal team, the people said. They may not necessarily lead to a criminal charge. The people were not authorized to speak publicly and did so on condition

Aparna Constructions to invest Rs 2,425 cr in 2 new Hyderabad projects

Realty firm Aparna Constructions and Estates on Tuesday said it will invest Rs 2,425 crore to develop two housing projects in Hyderabad. The two projects will have more than 2,500 apartments, offering individual unit sizes ranging from approximately 1,475 sq. ft. to 3,700 sq. ft. In a statement, the company said it has launched "two gated community apartment projects in Hyderabad, Aparna Newlands and Aparna Sarovar Towers, with a combined investment of Rs 2,425 crore." The project -- Aparna Newlands -- will be spread over 14 acres totalling 1,976 units, while the 5-acre Aparna Sarovar Towers project will have 585 units. Aparna Constructions, a division of the Aparna Group, is one of the largest real estate developers in South India. The company was founded by S S Reddy and C V Reddy in 1996. It has a portfolio of 77 projects, of which 66 are residential properties and 11 are commercial and retail spaces across Telangana, Andhra Pradesh and Karnataka. According to a recent report

Real estate players deploy AI, plug into AR and VR tech to boost sales

"Anarock used its AI/ML proptech solution ASTRA to boost primary housing sales by up to 15 per cent," says Anuj Puri, chairman, Anarock group

Keystone Realtors sales bookings up 26% to Rs 1,423 crore in Apr-Dec

Realty firm Keystone Realtors Ltd has sold properties worth Rs 1,423 crore during the April-December period this fiscal, registering a 26 per cent growth annually because of strong housing demand. Mumbai-based Keystone Realtors markets its properties under the 'Rustomjee' brand. It mainly focuses on developing housing projects in the Mumbai Metropolitan Region (MMR). The company's sales bookings stood at Rs 1,131 crore in the year-ago period. According to a regulatory filing earlier this week, the company's sales bookings in volume terms rose 9 per cent to 0.82 million sq ft during the April-December period of this fiscal from 0.75 million sq ft in the year-ago period. Amount collected from customers increased 32 per cent to Rs 1,533 crore from Rs 1,163 crore during the period under review, as per the filing. In the first nine months of this fiscal, Keystone Realtors has launched four projects with an estimated sales value of Rs 2,238 crore. Keystone Realtors has completed 23 mil

Mahindra World City signs deal with Tamil Nadu to invest Rs 1,000 cr

Real estate and infrastructure company says agreement will lead to jobs for more than 2,000 people

Tribeca Developers raises Rs 200 cr from HDFC Capital for project in Mumbai

Realty firm Tribeca Developers has tied up with Tejukaya Group to build a luxury housing project in Mumbai with Rs 1,000 crore investment and has raised Rs 200 crore from HDFC Capital for the project. Tribeca Developers is the largest developer of Trump branded projects in the world. "We have entered into a joint development agreement with Tejukaya Group to develop a 2.5-acre residential project in Parel, South Mumbai. We will develop over 400 units in this project," Tribeca Developers founder Kalpesh Mehta told PTI. Asked about the investment, Mehta said it will be around Rs 1,000 crore. "HDFC Capital is backing the project with Rs 200 crore of financing," he said, adding the company would also take construction finance. Mehta said the company is expecting Rs 1,800 crore sales realisation from this project. He said the two partners will share revenue. This is Tribeca's first project in Mumbai which will be launched in the first quarter of the next fiscal year. The 2.5-acre lan

Signature Global Q3 bookings up 47% to Rs 1,263 cr on better housing demand

Realty firm Signature Global on Monday reported 47 per cent increase in its sales booking to Rs 1,262.73 crore for the third quarter of this fiscal on strong housing demand. Its sale bookings stood at Rs 856.77 crore in the year-ago period. In a regulatory filing, Signature Global said the company sold 1,179 units in October-December period of this fiscal as against 1,089 units in the year-ago period. In terms of volumes, sale bookings rose to 1.31 million square feet in the third quarter of this fiscal from 1.10 million square feet in the year-ago period. During April-December 2023-24 , Signature Global achieved 41 per cent growth in sale bookings to Rs 3,124.12 crore from Rs 2,209.78 crore in the year-ago period. It sold 3,135 units in the first nine months of this fiscal, marginally up from 3,113 units in the corresponding period of the previous year. In volume terms, sale bookings grew 9 per cent to 3.2 million square feet during April-December of this fiscal from 2.94 millio

Macrotech Developers reports 12% rise in sale bookings to Rs 3,410 cr in Q3

Realty firm Macrotech Developers on Friday reported 12 per cent increase in its sale bookings to Rs 3,410 crore for December quarter of this fiscal year on better demand for its residential properties. Sale bookings of Macrotech Developers, which markets its properties under Lodha brand, stood at Rs 3,040 crore in the year-ago period. In a regulatory filing, Macrotech Developers informed that the company has achieved its best ever third quarter pre-sales performance. MD & CEO Abhishek Lodha said, "It is heartening to witness the housing cycle taking shape with each passing quarter. Consumer's desire to own a quality home early in their life journey and upgrade their lifestyle, continues to strengthen." On the back of steady rise in income levels and ample job creation, this desire is translating into robust demand for high quality homes, he added. Lodha said this fundamental driver of demand has enabled the company to deliver its best ever Q3 pre-sales performance at Rs 3,410 ...

Indian-origin realty developer booked for perpetuating $93 mn fraud scheme

An Indian-origin real estate developer has been charged by federal authorities in the US with perpetuating a USD 93 million fraud scheme. Rishi Kapoor, a Miami-based developer, faces charges filed by the Securities and Exchange Commission Wednesday. The SEC announced that it obtained an asset freeze and other emergency relief concerning the alleged USD 93 million real estate investment fraud perpetrated by Kapoor. The SEC also charged real estate company Location Ventures, its affiliate Urbin and 20 other related entities in connection with the fraud scheme, a statement said. According to the SEC's complaint, from approximately January 2018, until at least March 2023, Kapoor and certain of the defendant entities solicited investors by, among other things, making several material misrepresentations and omissions regarding Kapoor, Location Ventures, Urbin, and their real estate developments. The false statements allegedly included misrepresenting Kapoor's compensation; his cash ...

Malls registered high demand this year, trend likely to continue in 2024

Most malls that opened in 2023 had commitments even before they became operational, and were occupied soon after their opening

Congress leader Priyanka Gandhi named in ED's PMLA case charge sheet

ED has named Robert Vadra in its earlier charge sheet related to the case as an alleged close aide of Thampi