Page 131 - Real Estate

Properties in Dubai more affordable than suburban Mumbai: Danube Group

Danube has been holding road shows in Mumbai and Delhi and other metros and also smaller towns such as Bhubaneswar and Srinagar to sell its properties

Sentiments for real estate sector remain bullish for next 6 months: Survey

The sentiment index for the real estate sector remained positive during the April-June period with an improvement from previous quarter while the outlook for the next six months is also bullish, according to Knight Frank India and NAREDCO survey. In its 37th edition of the Real Estate Sentiment Index Q2 2023 (April-June), real estate consultant Knight Frank and industry body NAREDCO said that the current sentiment score has scaled up from the previous quarter's 57 to 63, in the optimistic zone. "This is due to the continued resilience of the Indian economy amid a recessionary environment globally. The Current Sentiment Score signifies stakeholders' current outlook in comparison to the preceding six months," Knight Frank said. During Q2 2023, the Future Sentiment Score rose from 61 in Q1 of 2023 to 64 in the optimistic territory as India's macroeconomic indicators remained firm, despite headwinds on some parameters, the consultant said. The Real Estate Sentiment Index is based on a

Retail leasing in India jumped 24% between January and July: CBRE report

CBRE said that as more international brands aim to enter India, they are witnessing growing traction in the luxury segment

Indian real estate sentiment score rose between April-June: Knight Frank

In all the zones, the sentiment was the highest in the East zone, followed by the North and West

Khan Market rents reach Rs 1500 per sq ft a month, breach pre-covid levels

Rents at Khan Market are almost double the most expensive retail locations in the financial capital, Mumbai

DLF to invest Rs 400 cr as equity to develop Mumbai project with Trident

Realty major DLF on Monday said it will invest Rs 400 crore as equity to develop a real estate project, comprising 35 lakh sq ft of estimated saleable area, in Mumbai in partnership with NCR-based builder Trident group. The company plans to launch the first phase of the Mumbai project, comprising 9 lakh square feet of residential space, by the end of this fiscal year. On Friday, DLF, which clocked record sales bookings of Rs 15,058 crore in the last fiscal year, announced its entry into the Mumbai property market. "We reflected for a long before re-entering Mumbai real estate market...We are investing Rs 400 crore as equity for the entire project that has a potential saleable area of 3-3.5 million square feet," DLF CEO Ashok Tyagi told analysts. He said the DLF will hold a 51 per cent stake in the special purpose vehicle (SPV) which will develop this project. The remaining 49 per cent will be with Trident Group. This is a Slum Rehabilitation Authority (SRA) project. Tyagi said thi

Sales of luxury homes priced above Rs 10 cr in Mumbai up 49%: Report

Sales of residential properties, priced above Rs 10 crore, in Mumbai's primary and resale market rose 49 per cent in value terms to Rs 11,400 crore during the January-June period on strong demand, according to India Sotheby's International Realty and CRE Matrix report. During the year-ago period, the sales of luxury homes in Mumbai stood at Rs 7,660 crore. Real estate consultant India Sotheby's International Realty, and data analytic firm CRE Matrix on Monday released a report on Mumbai luxury housing market for H1 CY'23. The report noted that the demand for luxury apartments in the financial capital was mainly driven by industrialists, Bollywood celebrities and high-salaried employees. As per the data, sales of luxury housing in the primary (fresh launch) market surged by 83 per cent to Rs 8,817 crore during January-June period, as compared to Rs 4,816 crore in the same period of the previous year. However, the sales in the secondary (re-sale) market were down 9 per cent to Rs 2,

Stock of operational flex space in India to double in next five years

A flex property, short for flexible property, is a hybrid of office and industrial space. It can be used as an office, retail space or warehouse

China property developers' shares, bonds dive as sector worries deepen

Doubts are growing any official support will be forthcoming, and investors do not expect any aid to be aimed at shareholders

Evergrande seeks court approval for offshore-debt restructuring plan vote

The hearing involving Evergrande and a unit is scheduled for Monday morning in Hong Kong. The world's most-indebted developer and another unit have similar hearings this week in the Cayman Islands

Homebuyers stage protest at Haryana Rera office against builder 'Supertech'

Homebuyers of a realty project staged a protest outside the office of the Haryana Real Estate Regulatory Authority (HERERA) here against the builder for neither refunding the money nor completing the project. Homebuyers of Supertech Hughes project at Sector 68 in the city also met with Union minister and local MP Rao Inderjit Singh and demanded strict action against the builder. They said that all buyers want a refund of their hard-earned money. Homebuyers allege that the Haryana Real Estate Regulatory Authority (HRERA) has directed the builder to return their money for failing to complete the project within the time but the company has not complied with the RERA order. The builder is neither returning the money nor completing the project, they alleged. Possession of flats was due in 2017 but till date flats have not been constructed, a homebuyer, SK Sachdeva, said.

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

Govt to resettle citizens from crack-prone areas to safer places: CM Shinde

In a statement in the Legislative Assembly today, CM Shinde informed that a decision has been taken to permanently resettle the citizens of the crack-prone areas of the state to safer places

DLF Q1 results: Consolidated net profit rises 12.2% to Rs 527 crore

Total income rose marginally to Rs 1,521.71 crore in the April-June period of 2023-24 financial year from Rs 1,516.28 crore in the year-ago period

Omaxe founder to be non-executive director; sons to lead realty firm

Realty firm Omaxe on Thursday announced a succession with founder Rohtas Goel relinquishing the role of executive director and delegating responsibilities to his two sons Mohit and Jatin Goel. Under the succession plan, elder son Mohit Goel has become Managing Director of Delhi-based Omaxe, while Jatin Goel is now executive director. In a statement, Omaxe said that Rohtas Goel, the Founder Chairman, has "relinquished his role as Executive Director and decided to continue in the capacity of a non-executive director and Chairman." Under the leadership of two brothers, Omaxe said the company would focus on reducing debt and exploring additional growth opportunities through public-private partnerships. "I am proud to witness the evolution of Omaxe and see my sons take the helm. This transition marks a turning point in the company's history, where Omaxe will embark on new avenues of growth and continue to make significant contributions to the real estate industry," Rohtas Goel said. Th

Dubai's stock market hits an 8-year high, lifted by a real estate boom

Buoyed by a surge in real estate activity, the Dubai Financial Market has reached its highest point in nearly eight years and extended year-to-date gains to nearly 25 per cent. The city-state's bourse peaked at 4,022 on Tuesday before pulling back to 3,986 on Thursday. It's trading at the highest levels since August 2015. This year the Dubai Financial Market has outperformed the S and P 500, which is up nearly 20 per cent, and the MSCI All Country World Index, a benchmark for global equities, which is up 16 per cent. Dubai, a global business hub home to 3.5 million people, weathered the pandemic while keeping its vital tourism industry afloat. The latest real estate boom is driven in part by an influx of Russian investors following Moscow's invasion of Ukraine. Shares of Emaar Properties and Emaar Development led the recent gains following a four-day break for the Muslim holiday of Eid al-Adha at the end of last month. The state-backed developers are behind dozens of high-rise ...

Office space demand dipped 6% to 13.9 mn sq ft in Apr-Jun quarter: Vestian

Three key southern cities - Bengaluru, Chennai, and Hyderabad - dominated office demand with the contribution of 59 per cent of the total office leasing in the quarter

Price hikes, scarcity of ready homes driving demand in resale realty market

The demand for ready-to-move-in apartments has doubled in the last six months, with inventory running low in many major markets

Evergrande pushes debt restructuring after posting $81 bn loss over 2 yrs

The defaulted real estate giant asked to convene meetings for offshore creditors to approve its credit overhaul plan, after reporting long-delayed financial statements for 2021 and 2022

Lodha to Sobha: Net debt of India's top realty players down 43% in 3 years

The market share of large listed and large unlisted developers has increased from 17% in FY17 to 36% in FY23.