Page 7 - Real Estate Developers

India's housing market to continue with high demand, growth in 2024

India's housing market defied logic this year to register all-time high sales as home buyers snapped up deals despite a jump in asking prices and the highest interest rates in six years. Market experts strongly believe the demand will not only sustain in 2024 but rise further, albeit at a slower pace, on high economic growth and expectations of a fall in home loan interest rate. The real estate industry saw record sales of residential properties in terms of both volumes and value, real estate market data showed as consumers are increasingly buying into the idea of home ownership post-Covid pandemic. The ouster of dubious developers from the real estate market thanks to greater regulatory oversight via RERA helped boost confidence among home buyers. The insolvency law too has played a role in elimination of defaulting builders. According to real estate consultant Anarock, housing sales are estimated to rise by 30 per cent this year to a record 4.74 lakh units in primary (fresh sales

PE inflow in real estate declines 44% to $3 bn so far in 2023: Knight Frank

Global investors have been cautious this year to put money into Indian real estate, as private equity inflow is down 44 per cent till December 12 to USD 3 billion compared to the entire previous year, according to Knight Frank. Real estate consultant Knight Frank India on Thursday released its data showing that the Indian real estate market received USD 3,024 million in PE investments from 23 deals between January 1 and December 12 this year, as against USD 5,357 million recorded in 2022. Global geopolitical uncertainties and a high interest rate environment with multiple rate hikes from the US Federal Reserve and the Central Bank of Canada have curbed investment activities from US and Canada, the consultant said, explaining the reason behind the slump. However, PE investments from Singapore have improved significantly, contributing more than 50 per cent to the total inflow. In terms of segments of the Indian real estate market, office assets took the lead with a 58 per cent share

Registration of properties in Pune up 7% in Nov amid higher demand: Report

Registration of properties in Pune rose by 7 per cent annually to 14,607 units in November on higher demand, according to Knight Frank India. Real estate consultant Knight Frank India on Sunday released properties' registration numbers of Pune compiled from the Maharashtra government data. A total of 14,607 units were registered last month, up from 13,694 registrations in November 2022, the data showed. Stamp duty collections for November 2023 stood at Rs 473 crore. The cumulative value of registered properties in November 2023 amounted to Rs 13,342 crore. During January-November 2023, Pune city recorded total registrations of 137,217 properties, up 9 per cent from 125,702 registrations in the corresponding period of the last calendar year. Stamp duty collections increased 10 per cent to Rs 4,779 crore during January-November this year from Rs 4,344 crore in the year-ago period. The overall value of registered properties in Pune rose 38 per cent year-on-year to Rs 106,562 crore d

Real estate firm Oberoi Realty buys 6.4-acre land in Thane for Rs 196 cr

Oberoi Realty has completed the purchase of a 6.4-acre land at Thane in Maharashtra for Rs 196 crore for the development of a real estate project. In a regulatory filing on Tuesday, Mumbai-based Oberoi Realty informed that the registry of the land has been done in its favour. In May, the company had entered into a Memorandum of Understanding (MoU) with NRB Bearings Limited for acquiring the lands located at Pokhran Road 2, Thane, Maharashtra, together with structures thereon. The acquisition was to be completed upon fulfilment of certain terms and conditions of the MoU. The same has been fulfilled. "The Company has on December 5, 2023, registered a conveyance deed of the said land admeasuring approximately 25,700 square meters (approx. 6.4 acres) in its favour and also taken possession of the said property," Oberoi Realty said. The total consideration for the acquisition of this land is about Rs 196 crore, which has been paid in its entirety. With the acquisition of this 6.4-acr

Realty sector's inventory surges to over Rs 1 trn, outpacing sales growth

This analysis is based on a common sample of 19 listed real estate companies that are part of the BSE500, BSE Midcap, and BSE Smallcap indices

3,294 acres acquired since Jan 2022 for residential projects: JLL report

Tier-II and -III cities accounted for 44.4% (1,461 acres) of the total land area transacted in the country

Mahindra Lifespace buys 5.38 acre land in Pune to build realty project

Realty firm Mahindra Lifespace Developers Ltd has acquired 5.38 acre land at Wagholi in Pune to develop a real estate project. The land is estimated to have a development potential of over 1.5 million square feet of saleable area, the company said in a regulatory filing on Thursday. Mahindra Lifespace did not disclose the deal value and name of the seller. "Wagholi is a high potential micro market of Pune. It has a growing demand for high-quality residential spaces, ready to be absorbed. "The proposed land parcel is located within a well-planned Kharadi-Wagholi micro-market, boasting robust social amenities and civic infrastructure," Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers Ltd, said. This land acquisition is aligned with the company's strategy to further solidify its presence in the city's pivotal micro-markets, he added. Mahindra Lifespace Developers is one of the leading real estate firms in the country.

India house prices on track for steady rises, affordability to worsen

The outlook was more upbeat and stable compared with companion polls of property markets in developed economies, where house prices are expected to fall or stagnate after surging as much as 50%

Mindspace Business Park REIT appoints Ramesh Nair as new CEO from September

Mindspace Business Park REIT has appointed Ramesh Nair as its new Chief Executive Officer with effect from September 1. Nair, who has experience of more than two decades in real estate sector, was earlier CEO of real estate consultant Colliers India. Before that, Nair was CEO & Country Head at JLL India where he worked for over 21 years. The Board of Directors of K Raheja Corp Investment Managers Pvt Ltd, manager to Mindspace Business Parks REIT, noted the resignation of Vinod Rohira, the current CEO, with effect from August 31, 2023. It also approved the appointment of Nair as the CEO with effect from September 1, 2023, according to a regulatory filing on Monday. The board approved the appointment of Rohira as the additional (non-executive, nonindependent) director on the board of the Mindspace REIT. Rohira will also have a larger role within the K Raheja group as Managing Director and CEO Commercial Real Estate, K Raheja Corp. He will also be on the board of the residential ..

Nifty Realty gains 2% in weak market; Prestige Estates, DLF soar up to 9%

Including today's gains, the Nifty Realty index has surged 7 per cent this week as against 0.3 per cent fall in the benchmark indices

Residential sales between January and June touched 15-year-high: JLL report

The highest residential sales were recorded in Bengaluru followed by Mumbai and Pune

Consumer Forum asks Raheja Developers to pay full deposit with compensation

The forum ordered that the complainant be refunded Rs 28,68,483 with 9% interest per annum from the date of deposit and along with a compensation of Rs 1 lakh and Rs 55,000 as litigation expenses

Sebi to auction Arise Bhoomi Developers' assets to recover investors' money

Capital markets regulator Sebi on Tuesday said it will auction 11 properties of Arise Bhoomi Developers and its directors on July 14 for a reserve price of over Rs 43 crore to recover investors' money. The properties that have been put on sale include land parcels, a shop and a plot, located in Uttar Pradesh and Maharashtra, the Securities and Exchange Board of India (Sebi) said in a notice. Arise Bhoomi Developers mobilised over Rs 8 crore during 2013-14 from the public in the name of the '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 (collective investment scheme), which requires compulsory registration from the regulator. However, the company launched the schemes without obtaining the necessary approvals from the regulator. Inviting bids, Sebi said it will auction the properties belonging to the company and its directors through an online mode on Ju

ATS HomeKraft says Rs 600 crore investment in pipeline for various projects

Real estate developer ATS HomeKraft said it has investments worth Rs 600 crore in the pipeline for various projects. The company has recently delivered a project in Greater Noida, West (Noida Extension), while three more projects are expected to be completed in NCR this year, according to ATS HomeKraft CEO Mohit Arora. "Currently, we have 10 projects and we are an HDFC equity company. They hold 20 per cent equity in our company and they are also the capital providers for ATS. Rs 600 crore investment is in pipeline by ATS Homekraft," Arora told PTI. He said, "Of these projects, two are in Noida, one in Noida Extension, three in Ghaziabad, one in Delhi's Rohini, two in Gurugram's Sohna, and one in Mumbai." The real estate company has just delivered its group housing project 'Happy Trails' in Noida Extension, two years ahead of the scheduled delivery, he said, and claimed, nearly half of the units have been handed over to the flat buyers and no dues towards the Uttar Pradesh governmen

Allcargo Logistics arm to sell stake in logistics parks to Blackstone

"This transaction will result in significant cash proceeds and provide for growth plans of the company, formerly known as Transindia Realty & Logistics Parks Limited," it said

Govt considering registration of flats even if developers go bankrupt

If this move sees daylight, it is expected to relieve thousands of homebuyers living with the scary thought of all their money going down the drain if in case their developer goes bankrupt

M3M eyes Rs 600 cr sales from phase-1 of City of Dreams project at Panipat

Phase-1 includes 900 plots of 140-180 square yards; Of these, 436 plots have already been sold for Rs 250 crore

Realtors buy 2,181 acre land since Jan 2022 for about Rs 26,000 cr: Report

Real estate developers have acquired nearly 2,200-acre land parcels since January last year for around Rs 26,000 crore, mainly to develop residential projects, according to JLL India. In a statement, real estate consultant JLL India said that the developers have acquired around 2,181, acres of land area in the last 17 months (January 2022-May 2023) valued at over Rs 26,000 crore, with an estimated development potential of around 209 million square feet in 104 separate land deals. Out of 2,181 acres, JLL said around 578 acres (27 per cent) of the land was acquired in the first five months of 2023 alone. Branded developers have successfully closed many land transactions in top metros as well as tier 2-3 cities, driven by the resilience shown by the real estate sector. Delhi-NCR, Chennai, Mumbai Metropolitan Region (MMR) and Bengaluru lead in terms of total land area transacted accounting for 72 per cent share (around 1,576 acres), having a development potential of around 150 million

87 real estate deals signed for 1862 acres of land in FY23 across India

Although the number of deals went up around 50% but the increase in terms of area didn't go up proportionally, which means developers are making large number of deals with smaller area

Avighna Group to invest Rs 1,000 crore to develop towers in Mumbai

The two projects will be funded through internal accruals, without seeking any external borrowings or institutional funding, the company said in a statement