Page 183 - Real Estate

Sunteck Realty's sales bookings drop 16% in FY21 amid Covid-19 crisis

Sunteck Realty Ltd on Wednesday reported 16 per cent decline in its sales bookings during the last fiscal year

Real estate has a healthy demand outlook, but some hiccups remain

The second wave may affect Q1, but there is a strong expectation that FY22 demand will perhaps equal or surpass FY20 levels

Mahindra Lifespace to buy 3.2 acre land in Pune for expansion plans

Mahindra Lifespace Developers has agreed to buy 3.2 acre land in Pune from parent company Mahindra & Mahindra as part of its expansion plan. The company said it has "finalised the terms to purchase approximately 3.2 acres of land in Pimpri, Pune, from Mahindra & Mahindra Ltd". The purchase is expected to be concluded in around six months, subject to the fulfillment of agreed conditions by both buyer and seller. This new project will offer about 3.25 lakh sq ft of carpet area. When it is launched, this will be Mahindra Lifespaces' fourth project in Pune. Arvind Subramanian, managing director & CEO of Mahindra Lifespace Developers Ltd, said, "The proposed acquisition will help us grow our presence in this high-performing micro-market and is in line with our residential expansion strategy." Established in 1994, Mahindra Lifespace Developers Ltd is the real estate and infrastructure development business of the USD 19.4-billion Mahindra Group. The company's development ...

Investo Xpert: Equipping the Real Estate Industry with a Digitalized Ecosystem

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Lodha Developers makes weak stock market debut as shares fall 5.8%

The poor listing comes amid weakness in the secondary market because of the rise in Covid-19 infections and lockdown measures imposed in key states

Real estate gets pvt equity investments of $3.2 bn in Q1: Report

19 deals took place in this period

PE investment in realty jumps 16-fold in Jan-Mar at $3.2 bn: Report

Private equity investment in real estate jumped over 16-fold in January-March 2021 to USD 3.24 billion as several deals spilled over from last year, according to Knight Frank. The property consultant, in its report 'Investments in Real Estate - Trends in PE Investments - Q1 2021', said Indian real estate attracted private equity (debt and equity) investments of USD 3,241 million across 19 deals in Q1 2021. The investment stood at mere USD 199 million in Q1 of 2020 calendar year. "The strong momentum in Q1 2021 was predominantly driven by two major factors: a spill over of certain deals from 2020 and the rise in investor confidence due to the drop in COVID-19 infections during early parts of Q1 2021," it said. Explaining the investment trend in the real estate industry, Shishir Baijal, chairman and managing director of Knight Frank India, said office assets continue to be the preferred segment attracting over 70 per cent of PE investments in Q1 2021. "While Q1 2021 has been an ...

Realtors fear sales will fall in June quarter due to coronavirus curbs

Construction work to continue in Maharashtra; several builders make arrangements for workers to stay at site

Office leasing in 7 cities falls 48% in January-March, says report

Net leasing of office space fell 48 per cent during January-March across seven cities due to the COVID-19 pandemic, but demand for the flexible space from corporates has increased, according to Cushman & Wakefield. In its latest quarterly report, property consultant Cushman & Wakefield said the net leasing of office space declined to 35,78,585 sq ft in January-March 2021 from 69,31,922 sq ft in the corresponding period of the previous year across seven major cities. The flexible space leased by corporate clients increased to 15,523 seats during the first quarter of this calendar year from 10,690 seats in the year-ago period. "A sharp jump indicates that occupiers are relying on managed space as a smart alternative in the current situation," it said. According to the data, the net leasing of office space in Mumbai plunged to 2,01,642 sq ft during January-March 2021, from 8,82,693 sq ft in the corresponding period last year. In Delhi-NCR, the net office absorption fell to ...

Housing sales increase by 20% in January-March: 99acres.com report

The Indian realty landscape with conducive government policies and multiple incentives registered 20 per cent hike year-on-year sales in January to March: report

Jaypee Infra lenders ask NBCC to take govt, regulatory nod on resolution

Lenders of Jaypee Infratech have asked state-owned NBCC to take the government's approval for the revised bid that it has submitted to acquire the bankruptcy-bound real estate firm.

RMZ and CPP join hands for commercial real estate development in India

RMZ Corp, one of Asia's largest privately-owned real estate owners & developers and Canada Pension Plan Investment Board ("CPP Investments") announced today that they have entered into a joint venture to develop and hold commercial office space in Chennai and Hyderabad.CPP Investments will invest Rs 15,000,000,000 (USD 210 million), which will allow for the expected development of 10.4 million square feet of high-quality commercial office sites."RMZ is widely recognized as one of the most innovative and prolific developers in Asia, dedicated to working to the highest standards across all aspects of the real estate equation. The partnership with CPP Investments, a globally respected institutional investor, will only strengthen our vision of achieving our hyper-growth strategy target of RMZ 2.0," said Manoj Menda, Corporate Chairman, RMZ Corp. "The value of the partnership assets, once developed, is estimated to be over USD 1.5 billion"."RMZ is amongst the only zero-debt real ...

What sets luxury apart from premium in the residential realty market

Luxury housing isn't just about the Italian marble or German modular kitchen. It embraces impeccable amenities, flawless maintenance, high-speed lifts, tight security, an efficient concierge and more

Net absorption of office space plunges 33% in Q1 of Calendar 2021: JLL

Prolonged work from home, rapid pandemic spread cited as reasons for drop

A Rs 1,001 cr house for Mr Damani and other marquee realty buys in Mumbai

DMart promoter Radhakishan Damani has reasons besides snob value for buying plush Malabar Hill property, say experts

Demand recovery, new launches help Sobha deliver record performance

Stock gains 16 per cent on Q4 show, expectations of sharp reduction in debt

Macrotech Developers' IPO draws mixed response from brokerages

The firm is one of India's largest developers by residential sales value for FY14 to FY20. Its core business is residential real estate development with focus on affordable and mid-income housing

How 3D printing technology is changing the construction landscape in India

Tvasta, a startup incubated at IIT-M and L&T Construction, believes that 3D printing in construction is the answer to India's housing issue

Macrotech Developers to reduce debt by 24% to Rs 12,700 crore after IPO

He said the company's net debt for India business is Rs 16,700 crore as of December 31, 2020. "Our debt will come down to Rs 12,700 crore after the IPO".

Housing sales increases 44% in Jan-Mar 2021 across 8 cities: Report

Sales of residential properties across eight major cities grew 44 per cent in the January-March period this year to nearly 72,000 units as demand recovered, according to Knight Frank India.