Page 146 - Real Estate

Costliest property deal: Welspun's BK Goenka buys triplex for Rs 240 crore

The penthouse has been purchased in the Three Sixty West project at Annie Besant Road in Worli, Mumbai

Large Budget allocation to infrastructure makes theme attractive

While infra funds can offer good returns over long term, returns tend to swing wildly from one year to next

Affordable housing demand to remain low as home loan rates rise: Experts

Some believe the impact of the interest rate hike has been limited and would not dampen homebuyers' spirit much, as demand remains high

RBI repo rate hike to impact affordable housing demand, say experts

The impact will be short-term, and the boost in budgetary allocations towards infrastructure will keep the demand robust

Haryana real estate regulator forfeits bank guarantees of JMS Infra Realty

The Haryana real estate regulatory authority (HRERA), Gurugram has forfeited the bank guarantees of real estate promoter JMS Infra Realty Private Limited as the promoter failed to submit approved service plans and estimates as well as zoning plan of its project on time. As per the conditions for granting RERA registration certificate (RC) in March 2022, the promoter had to submit the approved service plans and estimates and the approved zoning plan of the project within three months. The promoter had submitted Rs 25 lakh each for the two conditions as security deposit with the authority. "The bank guarantees were submitted to authority by the promoter as security for timely submission of approved service plans and estimates and approved zoning plan as stated in the registration certificate which was issued to the promoter by the Haryana real estate regulatory authority, Gurugram in March 2022," said the authority. "Since the promoter has not complied with the conditions of the ...

Sobha Ltd Q3 profit halves as land purchase costs surge, expenses up 51.7%

India's real estate developer Sobha Ltd on Tuesday reported that its third-quarter profit nearly halved, hit by higher land acquisition costs

PAG bets big on Indian real estate as NBFCs go slow on developer loans

Investor lent Rs 3,000 crore to property developers last year

Tech-led startups mushroom across realty sub-segments in post-pandemic era

Number of proptech enterprises have grown at CAGR of 200% to over 1,400 in 2022, from just two in 2016, shows Anarock study

I&L sector takes 31.6 mn sq ft on lease in 2022, highest since 2019

Delhi-NCR led the absorption with 7.3 million sq ft, followed by Mumbai and Bengaluro with 6.1 million sq ft and 5.2 million sq ft, respectively

With purchases worth Rs 35K crore, Indians emerge top home buyers in Dubai

This is almost double the money spent by Indians to purchase homes in Dubai in 2021

Damani's close associates buy 23 flats for Rs 1,200 crore in Mumbai: Report

Each apartment is about 5,000 sq ft in size and has been sold for Rs 50-60 crore

Oberoi Realty buys 63 residential units in luxury housing project in Mumbai

Mumbai-based Oberoi Realty has bought 63 residential units comprising over 5 lakh square feet in a luxury housing project at Worli in Mumbai. In a regulatory filing, Oberoi Realty said its shareholders had in December approved purchase/ acquisition of residential premises in the project 'Three Sixty West' constructed by Oasis Realty for up to Rs 4,000 crore. It was a material related party transaction, it added. On Saturday, Oberoi Realty said the company has concluded the purchase/ acquisition of residential premises in the project. Giving details, Oberoi Realty said the company has purchased 5,23,039 square feet carpet area. The total number of units purchased is 63, while the total amount of consideration paid by the company is Rs 3,403 crore. The stamp duty and other charges for purchase of these units are Rs 204 crore. The share of income tax liability discharged through Oasis Realty is Rs 605 crore. Consequently, Oberoi Realty said the company has recovered its entire fund

Godrej Properties' sales bookings rise 77% to Rs 8,181cr in Apr-Dec period

Realty firm Godrej Properties sales bookings rose 77 per cent year-on-year to Rs 8,181 crore in the April-December period on strong housing demand, and will cross the target of Rs 10,000 crore for the full fiscal, its Executive Chairman Pirojsha Godrej said. The company's sales bookings stood at Rs 4,613 crore in the first nine months of the last financial year. In an interview with PTI, Pirojsha Godrej said: "We are very happy with the quarter gone by. Operationally, it has been a very strong quarter". Sales booking during the October-December period jumped over two-fold to Rs 3,252 crore from Rs 1,541 crore in the year-ago period. "We have already done nearly Rs 8,200 crore of sales bookings in the first three quarters of this fiscal year and hopefully we will definitely cross Rs 10,000 crore annual guidance," Godrej said. The sales bookings in the third quarter were the highest for the company for any quarter ever, Godrej highlighted. Nevertheless, he said, Godrej Properties w

Relief to flat buyers of stuck projects, Rs 101 cr recovered: MahaRERA

Follow-ups on compensation orders for flat buyers has resulted in recovery of Rs 101 crore from developers in Maharashtra, the real estate regulator for the state said on Thursday. Maharashtra Real Estate Regulatory Authority (MahaRERA) regularly passes orders against developers who have not delivered on projects and follows up on them by sending warrants for recoveries to district collectors, it said in a statement. Follow-up actions since December resulted in developers at 118 projects in Mumbai city, Mumbai suburbs, Pune and Raigad paying up Rs 100.56 crore, it added. A total of 594 warrants were issued for the recovery of Rs 413.79 crore from the developers in the four districts, which led to the recoveries, the statement said. In Mumbai city, 3 warrants led to the recovery of Rs 11.42 crore from demands for Rs 44.92 crore in 14 warrants, while the same in Mumbai suburbs was 80 warrants leading to the recovery of Rs 55.57 crore as against demands of Rs 255.84 crore through 343

Budget 2023: Capital gains cap at Rs 10 crore to hit luxury home sales

The finance minister on Wednesday proposed to limit deductions from capital gains on investment in residential houses under Sections 54 and 54F to Rs 10 crore

Union Budget 2023: Big boost for affordable housing under PM Awas Yojana

Experts and key players hail announcements but lament that many of their other expectations remained unfulfilled

Budget balanced, likely to boost demand in housing sector: Realty industry

"Moreover, the sustained attention on manufacturing and improvement of urban infrastructure is likely to boost the I&L sector and at the same time spur economic activity and job creation"

Housing prices beginning to firm up after two-year Covid hiatus: Eco Survey

Housing prices have started to firm up after a two-year COVID lull and unsold inventories have declined on rise in demand, the Economic Survey said on Tuesday, as it anticipated a decline in prices on the back of a cut in import duties on many construction materials. India's residential market has witnessed recovery this fiscal on pent-up demand with increase in housing sales despite impediments like rising interest rates on home loans and appreciation in property prices, said the Survey which was tabled in Parliament. The release of "pent-up demand" was reflected in the housing market, as demand for housing loans picked up, the Survey noted. "Consequently, housing inventories have declined, prices are firming up, and construction of new dwellings is picking up pace and this has stimulated innumerable backward and forward linkages that the construction sector is known to carry," the document said. Housing prices have risen due to an increase in the construction cost amid ...

Affordable hsg demand dips, mid-premium remains preferred zone for buyers

Rising input costs, global uncertainties have made it more difficult for developers to launch budget homes in a cost-sensitive market

CPP Investments anchors new IndoSpace fund with $205 mn investment

Investment will add an additional 25-30 million square feet to real estate firm's portfolio