Page 145 - Real Estate

Synergy Advisors: The Shake-Up Real Estate Needed Has Truly Arrived

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Buying a resale flat? Don't let the society rip you off on transfer charges

The amount they can charge is capped in many cities; you can go legal to avoid payment or even recover your money paid under pressure

Listed real estate majors home in on market-share gains, price hikes

The sector has been able to offset interest rates, input cost pressures

Home buyers stage protest outside builder's office over delayed deliveries

Home buyers of a housing project of Raheja Developers on Saturday staged a protest outside the company's office here over delayed deliveries of their flats. Home buyers were demanding that the builder should either hand over the houses or refund the money. They alleged that buyers of the Raheja Revanta Project at Sector 78 are awaiting for the last five years for the delivery of their homes. The buyers alleged that even after taking 90 per cent of the money for the flat, they were being misled in the name of completing the project. The local police had also reached the spot. Arjun, the president of the association of Raheja Revanta Society, said the builder sold the flats in the name of the tallest project of Delhi NCR and Haryana. They bought flats for Rs 1 crore to Rs 5 crore. After discussions with builder Nayan Raheja, buyers and the developer agreed to hold a meeting every three months. A spokesperson of Raheja Developers in a statement said that they are aggressively taking

Yogi govt to boost real estate sector for achieving $1 trn economy goal

The Yogi Adityanath-led Uttar Pradesh government is eyeing at real estate sector as a key pillar in fulfilling its goal of making the state reach a $1 trillion economy

Godrej Properties buys 18.6 acre land in Mumbai to build luxury homes

Godrej Properties has bought an 18.6 acre land parcel at Kandivali, in Mumbai for around Rs 750 crore to develop a luxury housing project. On Friday, Godrej Properties informed about the land transaction but did not disclose the total deal value. Market sources and property consultants said the land deal was struck at around Rs 750 crore. Godrej Properties, which is part of business conglomerate Godrej Group, is one of the leading real estate companies in the country. The company has been aggressively buying land outrightly and also entering into joint development agreements (JDAs) with landowners to create future development pipelines. As per the regulatory filing, Godrej Properties expects sales revenue of about Rs 7,000 crore from this upcoming 18.6-acre project, which would have a developable potential of about 3.72 million square feet. The project will comprise primarily premium residential apartments with supporting retail spaces. Godrej Properties highlighted that this is

Godrej Properties buys 18.6 acres land in M'bai; eyes Rs 7Kcr sales revenue

Godrej Properties Ltd on Friday said it has bought 18.6 acre land at Kandivali in Mumbai to develop a premium housing project and expects sales revenue of about Rs 7,000 crore. In a regulatory filing, the company informed that the project would have a developable potential of about 3.72 million square feet with an estimated revenue potential of around Rs 7,000 crore. The project will comprise primarily premium residential apartments with supporting retail spaces. This will be one of the company's largest residential developments, and it significantly strengthens the firm's presence in the western suburbs of Mumbai. Godrej Properties highlighted that this is the 8th project addition so far this financial year and "takes the cumulative expected booking value from projects added in FY23 to approximately Rs 16,500 crore." Godrej Properties, one of the leading real estate developers in the country, had given a full year guidance of adding projects with a booking value potential of Rs .

Construction tech key for India to achieve zero emissions by 2070: H S Puri

The minister notes that the built environment generates significant carbon emissions accounting for almost 39% of gross carbon emissions worldwide

Shapoorji Pallonji Real Estate raises Rs 450 crore from Motilal Oswal

Shapoorji Pallonji Real Estate (SPRE) has raised Rs 450 crore from Motilal Oswal Group to fund its two projects. Motilal Oswal Alternates, the investments arm of Motilal Oswal Group, has committed Rs 450 crore to Shapoorji Pallonji Real Estate. The investment has been made against two projects. One of the projects is a partially completed, leased and operational commercial project located in Manesar. The other project is a residential township project, launched in 2021 and has seen a positive sales response. "The investment, which has been made through structured debt instruments will be utilised towards working capital for the project, repayment of debt and to achieve financial closure," Motilal Oswal said in a statement on Monday. Venkatesh Gopalakrishnan, CEO of Shapoorji Pallonji Real Estate, said the additional funding will strengthen the company's growth story even more by adding significant value to its project pipeline. Sharad Mittal, CEO of Real Estate Funds, Motilal Oswa

Welspun One Logistics Parks Fund 1 commits Rs 500 crore warehousing AIF

Creates a portfolio of Rs 2,300 crore across five cities, aggregating to about 6.6 million square feet of gross leasable area

Motilal Oswal invests Rs 450 cr in Shapoorji Pallonji Real Estate

Takes exposure to two projects--one commercial, the other a residential township

Housing sales in Gurugram jump over 3-fold to 24,482 units during Jan-Sep

Housing sales in Gurugram jumped more than three-fold on an annual basis to 24,482 units during January-September this year on higher demand for residential properties across all price categories -- affordable, mid-income and luxury, according to Anarock. Housing sales in Gurugram stood at 7,725 units in the year-ago period. Noida saw a 52 per cent increase in sales to 5,040 units in the first nine months of this year compared to 3,315 units in the corresponding period of the previous year, as per data compiled by Mumbai-headquartered property consultant Anarock. Sales in Greater Noida rose 46 per cent to 8,651 units during January-September 2022 from 5,925 units earlier. Ghaziabad witnessed a 54 per cent rise in housing sales to 5,395 units from 3,510 units in the corresponding period of 2021. Sales in Faridabad jumped nearly three-fold to 2,890 units from 1,018 units. Overall, Anarock data showed that sales in the Delhi-NCR market more than doubled to 49,138 units during ...

Walton Street invests Rs 165 cr in Sowparnika Homes' Bengaluru projects

Sowparnika caters to the middle-income/affordable segment with an average ticket size of Rs 50 lakh in a project close to key employment centres and IT Hubs

ICBC leads big banks to offer $179 bn aid to China's real estate developers

China's priority has been to ensure that unfinished homes get completed, while supporting the stronger firms that have so far survived the crisis

Keystone Realtors shares climb over 3% in stock market debut trade

Shares of Keystone Realtors, which sells properties under brand 'Rustomjee', ended over 3 per cent higher in its debut trade on Thursday against the issue price of Rs 541. The stock listed at Rs 555, reflecting a gain of 2.58 per cent from the issue price on the BSE. It further rallied 5 per cent to Rs 568.25. Shares of the firm ended at Rs 557.80 apiece, higher by 3.10 per cent. At the NSE also, it made its debut at Rs 555. It later ended at Rs 556.80, a gain of 2.92 per cent. The company commanded a market valuation of Rs 6,352.08 crore on the BSE. In volume terms, 4.16 lakh shares of the firm were traded at the BSE and over 58.63 lakh shares on the NSE during the day. The initial public offering of Keystone Realtors received 2 times subscription on the last day of the offer on November 16. The IPO had a fresh issue of up to Rs 560 crore and an offer-for-sale of up to Rs 75 crore. Price range for the IPO was at Rs 514-541 a share. Founded in 1995, Keystone Realtors has 32 com

Trident Realty to invest Rs 3,000 crore over 7-8 years in Haryana

Trident Realty will invest about Rs 3,000 crore to build a 200-acre luxury housing township at Panchkula in Haryana as part of expansion plan, its Chairman S K Narvar said. It has acquired this land parcel through insolvency process and invested around Rs 400 crore to settle the loans of financial institutions. It has also provided plots to around 450 stuck homebuyers in this project. The Delhi-based company has presence in Delhi-NCR, Mumbai Metropolitan Region (MMR) and is now making a foray into Chandigarh tri-city through this new project. "We have launched our new luxury residential project Trident Hills in Panchkula. This 200-acre land parcel is located in the foothills of the Shivaliks. We will be developing around 60 lakh square feet area in this township, including villas, group housing, independent floors and plots," Narvar told PTI. The project will be developed over the next 7-8 years. "We will be investing about Rs 3,000 crore to develop this township project," Narvar

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

NRIs from UK, US investing in large housing units in India: Realtors

NRIs based in the US, the UK and Singapore are investing in larger housing units in their hometowns, having learned from the painful experience of living in space-tight units during the lockdown in India, and as the Work from Home (WFH) mode has become a requirement, according to experts. The real estate experts, who took part in a Singapore property show held from November 19 to 20, also said that the Non Resident Indians are also settling down with extended families, another lesson from the pandemic that living together with family members is much helpful in facing another COVID-19 wave type development in the future. There has been a paradigm shift in the residential market in terms of living and lifestyle, said Isha Kotwal, head of international sales at Total Environment, Bangalore, who presented a sustainable residential development concept at the show. Chetan Sharma, senior general manager for sales and market at Emami Realty Ltd, a pan-India property firm of Emami Group, sai

Total leasing of office space in Oct dips 21% across top 7 cities: JLL

The total leasing of office space, which comprises demand for all grades of buildings, fell 21 per cent year-on-year in October across seven major cities to 6.7 million square feet on lower demand, according to property consultant JLL India. The aggregate office market leasing activities refer to transactions for all grades or types of buildings in the top 7 cities (Delhi-NCR, Mumbai, Bengaluru, Chennai, Hyderabad, Pune and Kolkata). The data includes confirmed pre-commitments and term renewals. Deals in the discussion stage are not included. Total office leasing activities stood at 8.5 million square feet in August 2021. As per the data, Mumbai with a 65 per cent share of monthly leasing activity clearly leads the way, mainly due to strong demand for space coupled with select significant renewals during the month, followed by Delhi NCR and Pune. These three cities accounted for nearly 93 per cent of all leasing activity in the October 2022 monthly leasing activity tracker. The ..

We see growth fuelled by all our business domains: Brigade Group MD

'If there is an IT slowdown, we see demand consolidating with branded, listed players like ours as a flight to quality'