Page 135 - Real Estate

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

Need to upgrade brokers' skills for better real estate services: FICCI-JLL

Industry body FICCI and real estate consultant JLL India have pitched for formal training and certification courses for property brokers to upgrade their skills, enabling them to help clients in taking informed decisions. FICCI and JLL India have jointly come out with a white paper titled '(Re)Shaping Real Estate Professionals', which highlighted that the real estate agent registration grew from 33,270 in January 2019, to 71,514 in January 2023, across the country under the Real Estate (Development and Regulations) Act, 2016, known as RERA law. A delegation led by Vineet Nanda, Chairman - Regional Urban Infra Committee, FICCI, recently presented the white paper to Arun Kumar Gupta, ACS, Town & Country Planning, Haryana, according to a statement. Nanda, Director Sales & Marketing of realty firm Krisumi Corporation, briefed Gupta about the education programme available currently to skill brokers, also called as channel partners. "Presently, despite the RERA, only 30 per cent of .

Rs 6 cr to 45 cr for a flat: NCR's Golf Course Road sees 42% price hike

Golf Course Road is a well-developed luxury micro market in Gurgaon which has been in high demand from the HNIs and luxury buyers alike

Profit from your paradise: Enjoy vacations, earn rent in tourist hotspots

Do the due diligence before you invest, as low occupancy level could mar returns

Home prices costlier by 8% in India, Delhi-NCR sees steepest hike of 16%

Delhi-NCR saw the highest increase in residential prices at 16% year-on-year, followed by Kolkata and Bengaluru with 15% and 14% increase, respectively.

Decoded: Why India's millionaires are flocking to Dubai and Singapore

Prohibitive tax laws coupled with convoluted and complex rules on outbound remittances that are open to misinterpretation and abuse are among the problems that have triggered the migration

Leasing of warehousing space at record 51.32 mn sq ft in FY23: Report

Warehousing leasing edged up to a record 51.32 million square feet last fiscal across eight cities on a strong demand from third-party logistics and retail sectors. The data for warehousing demand includes industrial space for light manufacturing/assembling. In a webinar, Knight Frank India on Tuesday released India Warehousing Market Report, which stated that the rentals rose 3-8 per cent across seven out of eight cities. As per the data, the total leasing of warehousing space rose to 5,13,24,201 square feet last fiscal from 5,12,94,933 square feet in the 2021-22 fiscal. Across cities, the leasing activities rose in Mumbai, Bengaluru and Kolkata but declined in NCR, Pune, Hyderabad, Chennai and Ahmedabad. Leasing of warehousing space rose 10 per cent last fiscal to 9.5 million square feet. Bengaluru saw a 25 per cent increase in demand to 7.4 million square feet while Kolkata witnessed an 18 per cent rise to 5.1 million square feet last fiscal. The leasing of warehousing space

DLF hits highest level since September 2008; zooms 40% thus far in FY24

The Group's strong operating performance in FY2023, which is expected to sustain in FY2024, is supported by continued end-user demand and good affordability

Sizzling rally in Indian property stocks seen extending over cuts on rates

The NSE Nifty Realty Index has gained 36% since a March-low as cooling inflation allowed the Reserve Bank of India to keep rates on hold

Registration of homes in Hyderabad region falls 7% to 5,877 units in May

Registration of residential properties in Hyderabad region fell 7 per cent annually to 5,877 units in May, according to property consultant Knight Frank India. The residential market of Hyderabad region includes four districts, namely Hyderabad, Medchal-Malkajgiri, Rangareddy and Sangareddy. Hyderabad recorded registrations of 5,877 residential properties in May 2023, up 31 per cent from previous month. However, it was 7 per cent lower from March last year. The total value of properties registered stood at Rs 2,994 crore. At a district level, the study shows Medchal-Malkajgiri district recorded 45 per cent of the home sales registrations followed by sales registrations at Rangareddy district at 39 per cent. The share of Hyderabad district in total registrations was 16 per cent during May 2023. Knight Frank said the highest proportion of property registrations in Hyderabad region last month was in the price range of Rs 25-50 lakh, accounting for 55 per cent of the total ...

Bigger the better: Average flat sizes in Delhi NCR rise 50%

But Mumbai sees average flat sizes drop by 5 per cent

Colliers appoints Ramaiy Kapoor as MD for its data centre business in India

This comes at a time when the company has been increasing its focus on the data centre business in the country

Average apartment size rises 5% annually in Jan-Mar 2023: Anarock

Real estate developers are building bigger apartments to meet consumer demand, with the average size of flats launched in January-March this year rising 5 per cent annually across seven cities, according to property consultant Anarock. As per the data, the average size of flats across seven major cities rose to 1,225 square feet in January-March this year from 1,170 square feet in the year-ago period. Among seven cities, Delhi-NCR saw average flat size rising 50 per cent to 1,700 square feet in the first quarter of 2023 from 1,130 square feet in January-March last year. Developers in Delhi-NCR are closely tracking demand and launching bigger homes in this region, Anarock noted. Kolkata saw flat sizes increase by 44 per cent to 1,150 sq ft in Q1 2023 from 800 sq ft in the year-ago period. The average flat size in Hyderabad rose 29 per cent to 2,200 sq ft in January-March from 1,700 sq ft in Q1 of 2022. Pune witnessed a 16 per cent yearly increase to 1,013 square feet in Q1 2023 f

Shriram Properties eyes 25% growth in housing sales in FY'24, says CMD

Realty firm Shriram Properties is targeting a 25 per cent growth in sales bookings this fiscal from a record Rs 1,846 crore in the previous year on strong housing demand, its CMD M Murali said. In an interview with PTI, the company's Chairman and Managing Director M Murali said the housing demand has been robust across all price categories, helping the company to post record sales bookings in the 2022-23 fiscal. Shriram Properties achieved an all-time high sales bookings of Rs 1,846 crore last fiscal, up 25 per cent from Rs 1,482.4 crore in the previous year, driven by higher volumes, better realisation and change in product mix. Asked about the target of sales bookings for this fiscal, Murali said, "We are looking at about 20 per cent growth in volume terms and 25 per cent growth in value." Sales volumes of 4.02 million square feet in the last fiscal, which is a new record, as against 3.8 million in 2021-22. The average annual sales realisation grew 8 per cent annually during the

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

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

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

India calling: NRI investments in Indian real estate have doubled

The share of NRIs in the sales of premium and luxury products has more than doubled to 20 per cent, industry experts said

New York tops the world's 20 most expensive cities for expats in 2023

Soaring inflation and rising accommodation costs were cited as reasons for New York topping ECA International's Cost of Living Rankings for 2023

Technical survey of Gurdaspur-Jammu gas pipeline complete: Housing Minister

Asserting that the ground situation in Jammu and Kashmir has changed after the abrogation of Article 370, Union Minister Hardeep Singh Puri on Tuesday said the technical survey on the 175-km Gurdaspur-Jammu gas pipeline has been completed. A final decision on the prestigious project will be taken this month, he added. The Union Minister of Housing, Urban Affairs, Petroleum and Natural Gas said the real estate summit is on the cards in Srinagar shortly after the successful first-ever such event in Jammu in December 2021. Puri, who was here to highlight the nine-year achievements of the Prime Minister Narendra Modi-led central government, said the petrol and natural gas regulatory board is evaluating the bids with regard to the Gurdaspur-Jammu gas pipeline project. Talking to media persons at BJP headquarters here, he said, "The technical survey has been done and financing (of the project) is underway. The final decision will be taken this month only". The pipeline will enhance the