Page 176 - Real Estate

174,000 flats completely stalled in 7 cities; NCR's share at 66%: Report

Nearly 1.74 lakh homes, worth around Rs 1.4 lakh crore, are completely stalled across seven major cities with Delhi-NCR accounting for maximum 66 per cent, according to property consultant Anarock. In its research, Anarock has taken into account only those housing projects that were launched in 2014 or before. Including both stalled and delayed units, the consultant said the total number reached to 6,28,630 homes worth Rs 5,05,415 crore across seven cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, Bengaluru, Hyderabad, Chennai and Kolkata. Given the huge funding crunch in the construction industry, Anarock said the outlook for people who bought units in completely stalled projects is "disastrous", while the prospects for buyers in heavily delayed projects are "bleak at best". Prashant Thakur, director and head (research) at Anarock, said: "As of H1 2021-end, we have nearly 6.29 lakh units that are yet to be completed across the top-seven cities." Anarock said the overa

Sunteck Realty Q1 profit at Rs 3 cr; revenue up 52% at Rs 96 crore

The Mumbai-based developer had posted a net loss of Rs 3.08 crore in the year-ago period.

Amid Covid, Mumbai sees 10-year high in property registrations in July

Normally, properties need to be registered within three months of the purchase

Mumbai mega makeover has big opportunities for both realtors and residents

Real estate companies say that if planned properly, the eastern corridor can rejuvenate Mumbai

Nisus Finance to invest Rs 500 crore for stressed and incomplete projects

Fund manager has already roped in an anchor investor that has committed Rs 100 crore for the stressed assets fund called Real Estate Performance Fund

Embassy Office Parks REIT expects demand to bounce back in early FY22

Occupancies may fall 100-200 bps in the coming quarters

DDA extends date for payment of cost of flats under 2019 Housing Scheme

The Delhi Development Authority (DDA) on Tuesday said it has extended the last date for payment of cost of flats under 2019 Housing Scheme to September 30, subject to certain conditions.

DLF's Q1 sales bookings jump nearly 7-fold to Rs 1,014 cr despite Covid-19

Realty major DLF Ltd's sales bookings jumped nearly 7-fold year-on-year to Rs 1,014 crore during the April-June quarter of this fiscal, on strong demand for its independent floors and luxury homes in Gurugram. The company's sales booking stood at Rs 152 crore in the April-June quarter of the 2020-21 fiscal year because of the nationwide lockdown to control the COVID pandemic. In its investors presentation, DLF said it sustained sales momentum during the June quarter despite the resurgence of COVID infections. Out of the total sales bookings in Q1 of FY22, DLF said the launches of new projects contributed Rs 542 crore. "Encouraging response for independent floors across DLF City/New Gurgaon vindicates product demand & acceptability," the presentation said. DLF's CEO Ashok Tyagi had given a sales bookings guidance of Rs 1,000 crore per quarter and over Rs 4,000 crore in the entire 2021-22 fiscal year. On borrowings, DLF said its net debt reduced by Rs 141 crore during the June ...

Delhi govt initiates process of revising circle rates of properties

The Delhi government has started the process for revising the circle rates of properties, seeking feedback from public, officials said on Monday.

DLF reports Q1 PAT of Rs 337 crore versus Rs 72 cr loss a year ago

At the end of June, its net debt shrank to Rs 4,745 crore from Rs 5,267 crore in March-end

DLF posts Rs 337.17 cr profit in June quarter, revenue jumps to Rs 1,242 cr

DLF is the country's largest real estate firm in terms of market capitalisation.

Real estate sector loans worth $18 bn under severe stress: Anarock

Property consultant Anarock, however, said in its report that at least 67 per cent or about $67 billion of the total advances to the sector is now completely stress-free.

Sentiments in property market turns pessimistic in April-June: Report

Sentiments in the real estate market turned pessimistic during the April-June quarter because of the outbreak of the second wave of Covid-19 pandemic

Covid crimps budget housing market as consumers cut down on expenses

Data shows the share of affordable homes in the overall new launches in the top seven metros fell sharply since the Covid-19 pandemic upended lives in India

Mahindra Lifespace goes aggressive in buying land parcels for new projects

Analysts expect its sales bookings value to grow 39 per cent on compound annual growth rate (CAGR) basis between FY21 and FY25

Real estate industry to grow five-fold to $1 trn by 2030: Housing Secy

Durga Shanker Mishra says that in line with PM's vision of 'Housing for All by 2022', some 11.2 mn houses have been sanctioned and 5 mn have already been allotted

Property mkt to touch $1 trn by 2030 on high demand, reforms: Housing secy

The Indian real estate market is estimated to touch $1 trn by 2030 driven by rising demand and various reforms in the past seven years, Housing and Urban Affairs Secretary Durga Shanker Mishra said

Property consultant Colliers appoints Ramesh Nair as CEO for India

Nair joined Colliers from JLL India, where he held the position of CEO & country head, leading over 12,000 people

US based Colliers appoints Ramesh Nair as CEO for India business

US-based property consultant Colliers on Wednesday announced the appointment of Ramesh Nair as the Chief Executive Officer (CEO) for India business, as part of its strategy to accelerate growth in the country. Nair, an industry veteran, will also be the Managing Director, Market Development for Asia, Colliers said in a statement. In January this year, Nair quit JLL India, where he held the position of CEO & Country Head and led a team of over 12,000 people. Nair joined JLL as an analyst in 1999, and became the CEO of India business in 2017. Based in Mumbai, Nair will partner with Sankey Prasad, Chairman & Managing Director of Colliers in India, to lead the business, the statement said. Commenting on the appointment, John Kenny, Chief Executive Officer, Asia Pacific, said: "We are delighted to have Ramesh join us to lead and accelerate the success of our clients and our people in one of the largest and most dynamic economies in the world." Nair's experience and leadership ...

Institutional investment in realty to grow 4% to Rs 36,500 cr: Report

Institutional investment in real estate is likely to rise by 4 per cent to $5 billion (Rs 36,500 crore) during this calendar year with investors looking to snap up properties at attractive valuations