Page 142 - Real Estate

Realty, auto firms expect demand to remain intact after RBI holds rate

Central bank outlook reflects 'sense of optimism' about business and demand growth, says one CEO

Street sees no major surprise in RBI's interest rate pause decision

Realty stocks could see more gains while banking and NBFCs may witness a relief rally

Office mkt remains appealing for long-term investors seeking stable returns

Rentals may not, however, appreciate in the near term due to considerable supply in a muted demand environment

Sales of residential flats up 20% across 7 cities in January-March

Real estate consultant JLL India on Wednesday said sales of apartments in January-March across seven major cities rose 20 per cent to 62,040 units, the highest quarterly sales in the last 15 years. The data includes sales of only apartments. Rowhouses, villas and plotted developments are excluded from this analysis. "The Indian residential market saw significant growth in Q1 2023 due to a combination of factors, such as government policies, infrastructure growth and robust launches," the company said in a statement. Across the top 7 cities of India, sales of residential units in January-March went up by 15 per cent compared to the previous quarter and 20 per cent against the same quarter last year, with over 62,000 units sold. "This marks the highest quarterly sales in the last 15 years, indicating increased consumer confidence," JLL said. Bengaluru is currently leading the market in terms of quarterly sales, with a 21 per cent share, closely followed by Mumbai with a 20.9 per ce

Indian corporates beat American firms in office leasing in Jan-Mar: CBRE

Indian corporates overtook American firms in gross leasing of office space during the first quarter of this calendar year with nearly 50 per cent share in the total demand, according to CBRE India. In 2022, it was for the first time that India Inc beat American firms in leasing. On Wednesday, CBRE South Asia Pvt Ltd released the findings of its office report stating that the gross leasing of office space rose 9 per cent year-on-year to 12.6 million square feet during the January-March period across nine cities as against 11.6 million square feet in the year-ago period. "Similar to the previous quarter, domestic firms overtook American companies in terms of quarterly leasing, accounting for nearly half of the leasing activity in the January-March quarter," CBRE said in a statement. The gross leasing of office space rose 40 per cent in 2022 to 56.6 million square feet across nine major cities from 40.5 million square feet in the previous year. Out of the total absorption of office sp

Oberoi Realty to build on new project launches, rental portfolio

Street will track pace of bookings, project execution, and acquisition of new land

IRB Infra becomes the first company to list privately-placed InvIT

Private trust becomes first to get listed on NSE post SEBI guidelines

HNIs to drive surge in demand for luxury housing in Delhi NCR in 2023

The luxury sector is over-indexed, with homes priced at Rs 2-3.5 crore growing at a faster rate

India's commercial realty market resilient amid global headwinds: Experts

Blow to office market due to slowdown, mass layoffs, slow hiring in tech sector is temporary, they say; sector has fared better than other global markets earlier, will do so this time too

Godrej buys 4 acre land in Pune for housing project; eyes Rs 1K-cr revenue

Realty firm Godrej Properties has acquired a 4-acre land parcel in Pune to build a luxury housing project with an estimated revenue potential of Rs 1,000 crore. In a regulatory filing on Saturday, Godrej Properties informed that it has acquired around 4-acre land parcel near Korgaon Park in Pune. The development on this land will primarily be a luxury housing project. "The project will have a developable potential of approximately 7.5 lakh square feet with an estimated revenue potential of approximately Rs 1,000 crore," the company said. The company, however, did not disclose the financial details of the transaction. Gaurav Pandey, the MD and CEO of Godrej Properties, said the demand for luxury homes has remained strong over the past few years. "This will be our first luxury development in the city...," he said. Godrej Properties, the real estate arm of Godrej Group, is one of the leading real estate developers in the country. It mainly focuses on development of housing project

India a mature real estate market with $5 bn fund flows per year: McDonald

India's real estate market in 2022 saw a more evenly distributed dispersion of investment as compared to 2020

Office space operator Tablespace takes on lease 100,000 sq ft area in Pune

Tablespace, which provides managed office space to corporates, has taken on lease one lakh square feet area in Pune to grow business. Real estate consultant Colliers India on Friday said in a statement that it has facilitated the leasing transaction of office space in Pune spanning 100,000 square feet for Tablespace. Co-working is emerging to be the preferred office space for businesses across industries, especially post-pandemic, given the flexibility and cost-effectiveness it offers, the consultant added. The companies present in the co-working segment, which includes managed and customised office space, generally take office space on lease from property owners and sub-lease it to corporate clients as well as individuals. On Thursday, Skootr, which also provides managed office space to large corporates, said it has taken on lease over one lakh square feet of office space in realty firm Max Estates' new building Max Square in Noida. Colliers India mentioned in its recent report t

Taparia family buys India's costliest apartment worth Rs 369 cr in Mumbai

The apartment is part of a sea-view luxury triplex apartment located in South Mumbai's Malabar Hill

Unique Properties - Pune's Finest Real Estate Brand that's making Unique and Exemplary strides!

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TVS Emerald, HDFC Capital to create Rs 1000 cr platform for real estate

Agreement to assist setting up plotted development projects in Chennai and Bengaluru

Sale of residential property in Mumbai touches a five-year high in 2022

Most of the home buyers were inclined towards mid-segment housing in Mumbai in the price range of Rs 1 to 2 crore

Real estate growth depends on job security of people: Gera Developments MD

Tight monetary norms would mean funding will become harder for developers, he says

Real estate sector gets $32 bn equity capital in 2018-2022, says CBRE

Real estate sector has received an equity capital of USD 32 billion during the last five years and is expected to attract USD 12-13 billion during 2023-24 with office assets likely to garner maximum fund, according to CBRE. Real estate consultant CBRE has estimated that equity flows in real estate sector will remain steady with expected investment at around USD 12-13 billion over the next two years with an average USD 6-7 billion flow per year. Equity investments include those by private equity funds, pension funds, sovereign wealth funds, institutional investors, real estate developers, investment banks, corporate groups, and REITs, etc. CBRE expects that office assets would continue to garner a majority share of total institutional inflows, followed by Industrial & Logistics (I&L) and sites/land parcels. In addition, alternative investments, particularly in data centres, may take off. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, ..

Mahindra firm, partner to set up mn sq ft warehouse park in Maharashtra

The facility will be part of an industrial corridor near that has become a major manufacturing cluster

Luxury housing fuelling growth in Indian realty market, say experts

Luxury homes are mostly located in upscale neighbourhoods and provide facilities like expansive decks, project amenities like swimming pools, spacious parking and terrace gardens