Page 140 - Real Estate

Sunteck Realty sales bookings jump 23% at Rs 1,602 crore in FY23

The firm's sales bookings stood at Rs 537 crore in the fourth quarter of the last financial year (Q4 FY23), up 36 per cent on QoQ basis

Office space absorption at 14 mn sq ft in Q1 2023, falls 11% YoY: Study

Bengaluru, Delhi-NCR and Chennai together account for two-thirds of quarterly demand

Enter longer-duration lease to control hike in home rental rates

Go for house purchase if EMI doesn't exceed 40 per cent of net salary; ensure financial resilience with 12 instalments in emergency fund

Ajmera Realty buys land parcel in Mumbai from Tata Comm for Rs 76 cr

Ajmera Realty & Infra India Ltd has acquired 5,017 square meters of land in Mumbai from Tata Communications for Rs 76 crore to build a residential project. The land parcel, located at Vikhroli East, has been acquired by its subsidiary Shree Yogi Realcon Pvt Ltd in a bidding process for a total consideration of Rs 76 crore. The acquisition is intended for the residential development offering 1/2/3 BHK, with an estimated gross sales value of Rs 550 crore, the company said. The land acquisition is a part of Ajmera Realty's growth strategy, to continue broadening its scope in newer micro-markets across the Mumbai & MMR region, where residential sales have accelerated and is expected to grow further. Dhaval Ajmera, the company's director, said the land acquisition in Vikhroli aligns with the objective of strengthening the company's footprint across real estate micro markets in Mumbai & MMR.

Unsold housing stock declines 6% in Jan-Mar in 14 cities: Report

Unsold housing stocks fell 6 per cent during January-March to nearly 5.18 lakh units across 14 cities compared to the previous quarter on better sales, according to data analytic firm PropEquity. Unsold inventories stood at 5,17,879 units during January-March this year against 5,48,217 units in the preceding quarter. During the first quarter of this calendar year, housing sales stood at 1,23,938 units while new launches were 93,600 units. "The residential market in India saw significant growth in Q1 2023. Market resurrection has been brought about by the recovery trend since last year, with quarterly sales surpassing the new launches in this quarter by 32 per cent," said Samir Jasuja, Founder and Managing Director at PropEquity. Sales have surpassed new supply in the first quarter, which is a healthy sign for the residential market, he added. According to the data, unsold stock in Delhi remained flat at 793 units in January-March as against 790 units in the previous quarter. In ..

The runway for mortgage finance in the country is immense: Deepak Parekh

"Urbanisation in India is an irreversible trend. Currently 32 per cent of the population reside in cities and this is expected to be 40 per cent by 2030," Parekh said

Demand outstrips supply to push residential rents 15.3% YoY: Magicbricks

The report also revealed that while 2BHKs continued to be the most preferred rental properties, the demand for 3BHKs grew by almost 6% QoQ, indicating an increasing preference for spacious homes

Real estate sector likely to grow nearly 18% by 2030: PHDCCI report

The report also talks about the relationship between ESG and carbon footprint

Bengaluru's housing rent grow over 20% Y-o-Y in Q1 2023: Anarock report

Anarock found that Thanisandra Main Road and Marathahalli-ORR in Bengaluru recorded the highest residential rental values growth by 24 per cent each

Home loans inquiries slowing; marked increase in unsecured credit: Report

Home loans, the mainstay of retail lending, witnessed a dip in demand in the December quarter, a credit information company (CIC) said on Wednesday. However, there has been a 'marked increase' in demand for credit cards and personal loans, which constitute the more stressful unsecured loans portfolio for banks, Transunion Cibil said. The demand for unsecured lending products is being driven by the adoption of consumption-led credit products, the CIC said. Inquiry volumes for home loans for the three months ending December 2022 were 1 per cent lower than the year-ago period, while the same for personal loans and credit cards shot up by 50 per cent and 77 per cent, respectively, it added. From a loan origination perspective, home loans witnessed a 6 per cent dip by volume and 2 per cent by value in the December quarter against a healthy uptick in personal loans, credit cards and two-wheeler loans segment. It can be noted that the period saw a surge in interest rates, which led to ..

Millennials driving demand for real estate in India: Anarock-CII Report

Study shows 61% of Indians today believe real estate is the best asset class for investment, though 96% think higher home loan rates will affect demand

Bigger homes the top choice for buyers despite price surge: Experts

However, price remains a key factor for over 80% of buyers; Many property seeker impacted by layoffs may defer home buying decisions for a while

Housing prices see 7% rise during Q1 of 2023 in top 14 cities: Report

The growth in the Indian residential market between January-March 2023 was driven by several factors, including infrastructure growth, government policies, and robust launches

Govt proposes panel of consumer forum, RERA to address realty issues

Consumer affairs dept also suggests exit clause for buyers in all agreements, valid until the builder obtains occupancy certificate or completion certificate, and offers possession

Private equity inflow in real estate plunges 95% to $45 mn in Jan-Mar

Private equity (PE) investment into Indian real estate fell sharply by 95 per cent in January-March to USD 45 million amid global uncertainties, according to property consultant Savills India. PE investment stood at USD 1 billion in the year-ago period. "The investment activity has been subdued due to growing global recession concerns, rising capital costs, and a mismatch in valuation expectations between sellers and investors, which have become significant hindrances to capital deployment in India," Savills said in a report. Furthermore, recent events in the global financial world, including the collapse of Silicon Valley Bank and the contagion spreading to other mid-market US banks, have contributed to the overall uncertainty in India's office leasing demand, it added. "The dip in private equity investment inflows into the Indian real estate sector in Q1 is understandable, given the prevailing geo-political and economic global challenges and uncertainties," said Diwakar Rana, ...

Chennai garners $2.88 bn investment in real estate sector between 2018-22

Chennai has garnered investments worth USD 2.88 billion in real estate during the period 2018-22, making the city among the top five in the country, a study undertaken by real estate consulting firm CBRE South Asia said on Tuesday. Across India, the real estate sector attracted investments of USD 43.3 billion between 2018-2022. Chennai recorded investments totaling to USD 0.9 billion during 2018-22 into land acquisition accounting eight per cent of the total land acquire since 2018. Over 60 per cent of the investments were in core and core-plus investment strategies, the report has revealed. According to CBRE Chairman and chief executive officer, India South East Asia, Middle East and Africa Anshuman Magazine, "in the next two years, we expect investment inflows to remain steady with cumulative inflow of USD 16 -17 billion." "Taking into account the historical and current trends and the capital that existing investment platforms have raised over the past two -three years, we ...

45% of property seekers in NCR want to buy 3BHK homes: CII-Anarock report

58% of Indians want to buy properties priced between Rs 40 lakh to Rs 1.5 crore

Govt to take up consumer grievances in realty sector at Mumbai roundtable

Real estate accounts for 10% of the total cases in consumer commissions; case pendency has been rising despite separate tribunals for redress such as RERA and NCLT

Gurugram-based realty developer M3M India eyes Rs 20,000 cr sales in FY24

The company claims it has sold 10 mn sq ft of space in FY23, about 81% beyond the FY22 figure of 5.5 mn sq ft. It aims to sell 14-15 mn sq ft in FY24

After a Covid hiatus, West Bengal feels the infotech buzz again

After a Covid hiatus, the state's IT hubs are seeing the big names in the business setting up or expanding operations