Page 147 - Real Estate

Setback for realty developers as SC recalls order capping interest rate

With the recent order, the way has been unlocked for the government authorities to get the land dues worth Rs 40,000 crore from the defaulters which were pending for years

Stores now preferred choice over online shopping: Raymond's Singhania

Raymond's sales rise 15% in September quarter versus pre-Covid period

Godrej Properties acquires 12 acres in Pune to build housing project

Realty firm Godrej Properties has acquired 12 acres of land in Pune for development of a housing project that has an estimated sales revenue potential of about Rs 2,000 crore. According to a regulatory filing, the company has, on an outright basis, acquired a 12-acre land parcel in Mundhwa-East, Pune. The development on this land will primarily be for a premium group housing project. The project will have a developable potential of approximately 2.2 million square feet with an estimated revenue potential of around Rs 2,000 crore, it added. Mohit Malhotra, MD & CEO, Godrej Properties, said, "Mundhwa is an important micromarket in Pune and we are happy to add this land parcel to our portfolio. This will further expand our presence in Pune and fits with our strategy of deepening our presence in established micro markets across India's leading cities." Godrej Properties, which is part of business conglomerate Goderj group, is one of the leading real estate developers of the ...

Macrotech Developers to launch 16 projects worth Rs 10,300 crore in H2 FY23

Realty firm Macrotech Developers plans to launch 16 new projects in the second half of this fiscal with an estimated sales potential of Rs 10,300 crore as it seeks to tap rising housing demand. Macrotech Developers, which sells its properties under the Lodha brand, is one of the leading real estate firms in the country. It has a major presence in Mumbai Metropolitan Region (MMR) and Pune property markets, while recently making an entry into the Bengaluru market with one housing project. According to an investor's presentation, the company launched a 4.4 million square feet area during the April-September period of this fiscal with an estimated sales booking of Rs 8,480 crore. For the second half of this fiscal, Macrotech Developers has lined up new launches of 16 projects, comprising a 7.3 million square feet area with an estimated sales value of Rs 10,300 crore. These projects would be a mix of fully-owned and joint development with landowners. In an interview with PTI last week,

Brookfield India's net dips 61% to Rs 27 crore, net operating income up

The company's sales rose 43.40 per cent to Rs 303.60 crore in the July-September quarter, from Rs 211.71 crore during the previous quarter ended September 2021

L&T Realty, CapitaLand tie up to develop 6 mn sq ft of prime office space

L&T will build and develop the spaces, CLINT will market them; most of the projects are to be started from the second half of 2024

We work in a few mkts, don't spread ourselves thin: Mahindra Lifespaces CEO

In a Q&A, Arvind Subramanian says his firm hopes to achieve Rs 2,500 crore residential sales a year and industrial leasing of Rs 500 crore by 2025

Gaurs group aims Rs 650 cr sales revenue from new mixed-use project

Realty firm Gaurs Group on Friday said it will develop a new mixed-use project at Ghaziabad with an estimated sales revenue of Rs 650 crore. In a statement, the company said it will develop a "mixed land use joint venture project in Ghaziabad with a saleable value of approximately Rs 650 crore." The project, located near Hindon airport civil terminal, will comprise high-street retail with multiplex and banquets, studio apartments and social housing. Under the project, over 450 shops, 400 studio apartments and around 600 social housing units will be developed. Veshesh Gaur, Director, Gaurs Group, said: "We have been increasing our foothold in the retail sector, and have been successfully operating 2 malls, one each in Ghaziabad and Noida Extension, having tie-ups with more than 100 national and international brands." "With gradual increase in the number of flights from the civil terminal at Hindon airport, it has provided a major boost to the entire sector which is densely populated

Office space demand can translate into high returns, say experts

Oversupply, poor maintenance can, however, play spoilsport

Retail leasing rises 114% Y-o-Y, crossed 3.4 mn sq ft in 9 months: Report

Hyderabad, Delhi- NCR, Mumbai, and Bangalore account for 79% of overall retail space absorption

PM Modi inaugurates 3,024 EWS flats in Delhi to rehabilitate slum dwellers

Prime Minister Narendra Modi on Wednesday inaugurated 3,024 newly constructed flats for the Economically Weaker Sections in Delhi as part of an in-situ slum rehabilitation project. He did the honours at a ceremony here which was also attended by the beneficiaries. Modi handed over the keys of the flats to many of them. This will give the slum dwellers a sense of ownership and security, a statement from the Prime Minister's Office had earlier said. The in-situ slum rehabilitation in 376 Jhuggi-Jhopri clusters is being undertaken by the Delhi Development Authority (DDA) in line with the prime minister's vision to provide housing for all, it said. Delhi LG Vinai Kumar Saxena and Union Housing and Urban Affairs Minister Hardeep Singh Puri were among those who attended the event.

Hyderabad, NCR, Bengaluru top choices for NRIs investing in houses: survey

Study says over 77% of NRIs looking to buy bigger homes, with 54% favouring 3BHKs and 23% wanting 4BHKs

Rs 23,380 crore needed to upgrade office buildings in top 4 cities: Report

Property consultant JLL India on Tuesday said that nearly 350 million square feet of premium office space across four major cities needs upgradation with an estimated investment of Rs 23,380 crore. In a statement, JLL said that Bengaluru, Mumbai, Delhi-NCR, and Hyderabad hold 347 million square feet of Grade A office stock which requires upgradation and retrofits. Bengaluru has 118.8 million square feet of Grade A stock that requires upgradation, followed by Mumbai with 85.8 million square feet, Delhi-NCR with 80 million square feet and Hyderabad with 62.8 million square feet. The upgradation includes age, services and amenities-related upgrades as well as sustainability-led asset enhancements. "The estimated total investment across the four cities for the upgradation of the said total stock is around Rs 23,380 crore," it said. For the capex spend calculations, all projects over 1,00,000 square feet have been considered irrespective of the age of the asset. The top four cities acc

China's property debt crisis enters new phase as bond havens crumble

China's property debt crisis is entering a new phase as even developers that had long been considered safer rapidly tumble into distress

China's property crash sends billionaire founders heading to exits

Longfor Group Holdings Ltd.'s Wu Yajun resigned on Friday as executive director and chair, shortly after Soho China Ltd.'s Pan Shiyi quit in September

China builders slide to record lows as top chairwoman Wu Yajun steps down

A sudden resignation by the founder and chairwoman of a top Chinese builder has added to concerns over China's ailing property sector, fueling a further selloff

New supply of residential properties may rise 44% to 340,000 units in 2022

Fresh supply of residential properties is expected to rise 44 per cent this year across seven cities to 3.4 lakh units as developers look to tap increase in demand, according to Anarock. Property consultant Anarock data showed that new launches stood at 2.65 lakh units during January-September this year across primary markets of seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Pune, Chennai, Hyderabad and Kolkata. The current trends indicate that launches in these cities will exceed 3.4 lakh units in the entire 2022 calendar year, the consultant added. "Total new launches in 2022 will remain lower than the previous peak of 2014, which saw approximately 5.45 lakh homes launched across the top 7 cities," Anarock said. As per the data, new home launches stood at 4,64,060 units in 2013, 5,45,230 units in 2014, 3,89,970 units in 2015, 2,49,840 units in 2016, 1,46,860 units in 2017, 1,95,300 units in 2018, 2,36,560 units in 2019, 1,27,960 units in 2020 and 2,36,690

NRIs can repatriate funds from sale of two houses, say experts

For property bought as resident or inherited, up to $1 mn can be sent each year

Future sentiment score hints a decline in housing market momentum in Q4

The Current sentiment score has declined marginally from 62 in the second quarter of 2022 to 61 in the third quarter of 2022.

The natural synergy between real estate and hospitality can be leveraged for a disruptive way of real estate investment

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