Page 17 - Real Estate Firms

Residential real estate sales to lag commercial in FY23: CRISIL

On the commercial real estate front, after a healthy performance in the first half of this financial year, net leasing will slow down in the second half owing to fears of an impending global recession

Godrej Properties buys 9-acre land in Gurugram, sees revenue of Rs 2,500 cr

Golf Course Road Extension will offer 1.6 million square feet of premium residential development

Experts see 2023 as a year of smooth sailing for real estate sector

Demand likely to remain buoyant despite prospects of another rate hike; industry looking for tax breaks, lower transaction costs

Piramal Realty eyes Rs 2,200 cr sales bookings in FY23, up over 40% YoY

Piramal Realty is targeting about Rs 2,200 crore sales bookings this fiscal, up over 40 per cent year-on-year, on strong housing demand, its CEO Gaurav Sawhney said. Founded in 2012, Piramal Realty is the real estate development arm of business conglomerate Piramal Group. It is one of the leading developers with 15 million square feet of residential and commercial space under development in the Mumbai Metropolitan Region (MMR). In an interview with PTI, Sawhney said the company has achieved average annual sales bookings of around Rs 2,000 crore in the past five years as it witnessed robust demand for its residential properties across four projects that it has launched so far. Asked about the performance this fiscal, he said, "Our target is in the range of about Rs 2,200 crore. So as of now we look confident that we will cross the Rs 2,000 crore mark, given the demand is buoyant." Sales bookings were more than Rs 1,500 crore last financial year, he informed. Piramal Realty is ...

Piramal Realty to invest Rs 3,500 cr in 2 yrs; aims to deliver 5,000 flats

Piramal Realty will invest Rs 3,500 crore over the next two years in four ongoing housing projects as it aims to deliver a 6 million square feet area to customers, its CEO Gaurav Sawhney said. Founded in 2012, Piramal Realty is the real estate arm of the business conglomerate Piramal Group. It is one of the leading developers with 15 million square feet of residential and commercial under development in the Mumbai Metropolitan Region (MMR). In an interview with PTI, Sawhney said the company is developing 13 million square feet in phases across four residential projects in Mulund, Thane, Mahalaxmi and Byculla in the MMR. The company is developing around 12,000 apartments across these four projects. "We have launched around 8-8.5 million square feet so far in these four projects and the remaining 4-5 million square feet will be launched over the next two years," he said. Sawhney said the company is focusing on delivery and has started handing over the first set of 1,000 apartments t

Dharavi redevelopment project a veritable realty goldmine, say experts

Sensitive rehab, retaining local jobs key challenges in Adani's mega project

Greenfield construction cost for developers up 5-7% in Q3 2022: Report

Labour cost increased 8-10% and reinforcement steel prices went up about 20%, says study scanning cities

M3M expects Rs 5,000 cr in sales through 13-acre land acquired in Noida

Real estate firm will invest Rs 2,400 cr in mix-use project of housing, retail and service apartments

Abu Dhabi fund invests $500 mn in Kotak Investment's 13th real estate fund

With this new fund, KIAL has raised, managed or advised more than $3.3 billion under its real estate fund series

Smartworld Developers expect sales worth Rs 250 cr from retail project

The 100,000 sw ft project in Gurugram is spread over three floors, with units ranging from 500 sq ft to 12,000 sq ft

Game-changing rules for asset reconstruction companies

The new norms succinctly sum up the RBI's view on how some of the ARCs have been run

Hyderabad registers homes worth Rs 2,237 crore in October: Knight Frank

Near 10% dip in registrations to Rs 27,509 crore since January; units worth Rs 25-50 lakh each constitute 51% of total

Office space demand can translate into high returns, say experts

Oversupply, poor maintenance can, however, play spoilsport

China's property debt crisis enters new phase as bond havens crumble

China's property debt crisis is entering a new phase as even developers that had long been considered safer rapidly tumble into distress

China builders slide to record lows as top chairwoman Wu Yajun steps down

A sudden resignation by the founder and chairwoman of a top Chinese builder has added to concerns over China's ailing property sector, fueling a further selloff

Future sentiment score hints a decline in housing market momentum in Q4

The Current sentiment score has declined marginally from 62 in the second quarter of 2022 to 61 in the third quarter of 2022.

Uday Kotak, Asia's richest banker, weighs $1-bn real estate fund: Report

Kotak Investment plans to complete the fundraising by the end of this year and to embark on its investment in 2023, focusing on residential property in India's top five cities

Air quality-driven construction ban may delay realty projects in Delhi-NCR

568,000 housing units are under various stages of completion. Periodic bans by NGT, govt, or apex court in response to poor air quality have serious consequences, say experts

India's real rate shouldn't be more than 1%: MPC member Ashima Goyal

In a Q&A, she says the interest differential with US does not matter so much because India has caps on interest sensitive inflows. Overseas investment is a very low share of the country's debt market

Rising median loan rates lead to fall in affordability of homebuyers

A cumulative increase of 0.95 per cent in median home loan rate has impacted the purchase affordability and purchase decisions of homebuyers, according to the Affordability Index by Knight Frank