Page 148 - Real Estate

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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Housing sales in tier-1 cities in 2022 set to cross previous peak of 2014

Total sales in top-7 cities is expected to exceed 360,000 units this year; the previous peak in the year 2014 was 343,000 units

Housing sales in top 7 cities gain momentum, likely to breach 2014 peak

Going by the momentum of housing sales this year, 2022 is likely to breach the previous peak of 2014 with an all-time high sales across the top seven cities

Rising rates may result in moderation in home sales growth: JLL India CEO

The increase of 190 basis points (bps) in the repo rate resulted in a surge in mortgage rates with a transmission of 130-140 bps in the effective home loan rates: Radha Dhir

CIDCO launches 7,849 flats in Navi Mumbai under mass housing scheme

The City and Industrial Development Corporation (CIDCO) on Monday launched 7,849 affordable flats under its mass housing scheme in Navi Mumbai. In a video message for the launch, Maharashtra Chief Minister Eknath Shinde said CIDCO is the leading corporation in the country in providing affordable housing to the people from different economic strata. Under the Mass Housing Scheme, 7,849 affordable apartments have been made available to citizens from the economically weaker section (EWS) at Bamandongari, Kharkopar (east) 2A, Kharkopar (east) 2B and Kharkopar (east) P3 in Ulwe node of Navi Mumbai. The online registration of applications for this scheme will start on Tuesday. With ambitious projects like Navi Mumbai International Airport, the Ulwe node will gain massive importance in the future. The opportunity to own a house in the well-connected Ulwe node has come through this mass housing scheme on the auspicious occasion of Diwali, CIDCO vice-chairman and managing director Dr Sanjay

What to check when buying an under-construction property?

Property prices are northbound again. But, under-construction properties are a better option when compared to ready-to-move homes which are costlier. Here's a for buying under-construction properties

What NRIs on short visits to India must consider before buying property

They should hire a property consultancy or a lawyer to do due diligence on their behalf

DLF sells housing units worth Rs 4,092 cr in Apr-Sep, up 62% Y-o-Y

Realty major DLF Ltd's sales bookings rose 62 per cent year-on-year during the April-September period to Rs 4,092 crore on better demand for its housing properties. Its sales bookings stood at Rs 2,526 crore in the first half of the previous financial year, according to an investors presentation by the firm. DLF Ltd has given guidance of sales bookings at Rs 8,000 crore for the current 2022-23 financial year, a 10 per cent increase from the previous fiscal. Its sales bookings rose to Rs 7,273 crore in 2021-22 fiscal from Rs 3,084 crore in the previous year. When contacted, DLF Group Executive Director and Chief Business Officer Aakash Ohri attributed the growth in sales bookings to strong end-user demand for its residential properties. "We are maintaining the sales bookings guidance for this fiscal year," he said, adding that the company would prefer being cautious in the rising interest rate regime. Ohri said the company has worked hard in the last two years to attract end user

Motilal Oswal invests Rs 260 cr in 3 projects of Urbanrise-Alliance Group

The total saleable area in these three projects would extent to 6.2 million square feet and is expected generate a revenue of Rs 4,600 crore

NAREDCO sets up finance committee to help builders in getting funds

The NFC will also support large-scale projects to access funds via financial institutions and educate members to enhance their credit ratings.

RERA project & agent registrations up by 109% in last 3 years, shows data

The states with maximum project registrations are Maharashtra, Gujarat, Karnataka, Madhya Pradesh, Uttar Pradesh, Telangana and Tamil Nadu.

Rents in gated communities in Bengaluru increase by 40%, says report

Traditionally, rents increase by 7-8 per cent in a year but this year they have increased from anywhere between 15-40 per cent.

India's home sales, prices to rise, defying rate hikes: Puravankara CEO

Puravankara Ltd, one of India's top property developers, expects both prices and new home sales to rise in the near future, defying rising interest rates, a top company executive said

Prestige Estates Q2 sales bookings rise 66 pc; H1 bookings jump over 2-fold

Realty firm Prestige Estates Projects Ltd's sales bookings rose 66 per cent year-on-year to Rs 3,511 crore in the second quarter of this fiscal on higher demand despite a rise in home loan interest rates. Prestige Group has registered sales of Rs 3,511 crore in the July-September period against Rs 2,111.9 crore in the year-ago period. The collection from customers increased 68 per cent year-on-year to Rs 2,602.9 crore, the company said in its operational update for the Q2 and H1 of this fiscal filed on stock exchanges. "The sales during this period are attributed to 4.55 million square feet volume with an average realisation of Rs 7,711 per square feet," the company said. During the April-September period of this fiscal, Prestige Group's sales bookings more than doubled to Rs 6,523.1 crore from Rs 2,845.9 crore in the corresponding period of the previous year. The sales during this period are attributed to 8.18 million square feet volume with an average realisation of Rs 7,976 per

Mukesh Ambani purchases beach-side Palm Jumeirah villa in Dubai for $163 mn

The billionaire has been snapping up properties overseas, increasingly looking westward for second homes

Flat buyers' wait for registry gets longer for lack of required certificate

Several builders in Noida have not paid their dues to the development authorities, so they have not been issued OCs and CCs