Page 58 - Real Estate

34% of Delhi-NCR homes listed for sale currently are priced over Rs 10 cr

As per exP India, Delhi-NCR is the city best poised to benefit from the significant growth seen across India's luxury property market.

Nikhil Kamath's Gruhas, Brigade launch Rs 300 cr realty-focused fund

Both partners have contributed about 15% each to the overall Rs 200 crore Sebi-registered Category II AIF, which includes a Rs 100 crore green-shoe option

Shapoorji Pallonji Group in final lap to raise nearly Rs 28,600 crore debt

Over a dozen investors keen on buying the bonds that may be backed by the group's stake in Tata Sons

SC seeks CBI roadmap to unravel builder-banks nexus duping homebuyers

The Supreme Court on Tuesday ordered the CBI to submit a roadmap on how it plans to unravel the "builder-banks nexus" which has duped thousands of homebuyers in the NCR as it proposed to go into the root of the matter. A bench of Justices Surya Kant and N Kotiswar Singh said thousands of homebuyers were affected by the subvention scheme, where banks paid 60 to 70 per cent of the home loan amount to the builders without projects being completed within the stipulated time. Under the subvention scheme, banks disburse the sanctioned amount directly to the accounts of builders, who are then required to pay EMIs on the sanctioned loan amount until flats are handed over to homebuyers. After builders started defaulting on EMIs to banks, as per the tripartite agreement, the banks sought EMIs from the homebuyers. "We hope that there is no mafia involved," the bench said. The court directed CBI counsel additional solicitor general Aishwarya Bhati to submit a proposal outlining the investigat

Aditya Birla Real Estate gains 5% after arm launches residential project

The surge in the Aditya Birla Real Estate share price came after the company said its wholly-owned subsidiary, Birla Estates Private Limited, has launched a residential unit, Birla Punya, in Pune

Workplace business on a high as back to office becomes the new normal

While commercial real estate developers are banking on potential demand, they also believe that hybrid work culture will continue to co-exist

Capital appreciation steals a march on rental growth in key markets

NCR, MMR, Hyderabad see higher capital appreciation between 2021 and 2024, says Anarock report

Blackstone floats open offer to acquire up to 26% in Kolte-Patil Developers

Global investment firm Blackstone has launched an open offer to acquire up to 26 per cent stake in Pune-based realty firm Kolte-Patil Developers Ltd from public shareholders for Rs 758.56 crore. Last week, Kolte-Patil Developers announced that Blackstone would acquire a 40 per cent stake in the company for Rs 1,150 crore, entering into Indian residential market after having a significant exposure in office, shopping mall, warehousing and date centre verticals of real estate. Blackstone affiliated firm will acquire a 14.3 per cent stake for Rs 417 crore through a preferential issue of equity shares and another 25.7 per cent stake from the promoters group for Rs 750 crore. In a regulatory filing on Monday, Kolte-Patil Developers informed that Blackstone Group affiliated firm BREP Asia III India Holding Co VII Pte Ltd together with Blackstone Real Estate Partners Asia III L P and Blackstone Real Estate Partners (Offshore) X.TE-F (AIV) L P have launched an open offer for acquisition of

Lease or buy? Capital appreciation pips rental growth, 128% in key markets

Noida's Sector-150 saw capital values rise 128% 2021-2024, rental values (for standard 1,000 sq. ft. 2BHK) rose by 66%

Realty firms buy 6,000 acres for Rs 90,000 cr in 2 yrs on strong demand

Real estate developers have acquired 5,885 acres land during 2022-24 for Rs 90,000 crore to build projects amid strong demand for housing and commercial assets, according to JLL India. Real estate consultant JLL India data showed that real estate developers bought 1,603 acres of land in 2022 for Rs 18,112 crore, 1,947 acres in 2023 for Rs 32,203 crore. During 2024, the land acquisition by developers touched 2,335 acres costing Rs 39,742 crore. During the 2022-24 period, real estate developers bought 5,885 acres for Rs 90,057 crore. The data includes only outright purchases by real estate developers, the consultant said. Joint development agreements (JDAs), signed between developers and land owners, have not been included for the analysis. "The year 2024 marked a watershed year in India's real estate sector, characterised by a surge in land acquisitions. Developers across the country embarked on an ambitious expansion drive, securing a vast 2,335 acres of land through 134 distinct

Brigade Enterprises launches Rs 2,700 cr housing project in Bengaluru

Realty firm Brigade Enterprises targets Rs 2,700 crore revenue from its new housing project in Bengaluru. In a regulatory filing on Friday, Brigade Enterprises said it has launched a residential project 'Brigade Eternia' in Yelahanka, Bengaluru. The project, spread over 14.65 acres, will have 1,124 residential units with a total built-up area of about 20 lakh square feet. "The project has a revenue potential of over Rs 2,700 crores," Brigade said. The project will be completed by March 31, 2030. Pavitra Shankar, Managing Director of Brigade Enterprises, said, "North Bangalore, particularly Yelahanka, is emerging as a key micro market with immense growth potential." Established in 1986, Brigade Group is one of India's leading property developers. Brigade has developed many projects in South India. As per the PropEquity data, housing sales in Bengaluru fell 9 per cent to 60,506 units in 2024, from 66,600 units in the preceding year.

Blackstone to acquire 40% stake in Kolte-Patil Developers for Rs 1,166 cr

Kolte-Patil builds residential, commercial projects and has a presence in Pune, Bengaluru and Mumbai

Mumbai's Worli sees ultra-luxury deals worth Rs 4,862 cr in 2 yrs: Anarock

The locality had a total housing supply of 4,600 units till 2024, with an average price of Rs 75,000 per square foot

Indian developers buy land parcels worth Rs 39,700 crore in 2024: JLL

Investments of about Rs 62,328 crore will be needed to develop these land parcels

IHCL signs first branded residences under Wellington Mews brand in UAE

The new properties are expected to be launched soon after Ramadan for an undisclosed amount, according to a company release

Kajol buys retail space in Mumbai's Goregaon West for Rs 28.78 crore

The property has been sold by Bharat Realty Ventures, a Mumbai-based real estate developer

Delhi NCR realty market crosses Rs 1 lakh cr in sales value, pips Mumbai

The total sales value of Delhi-NCR rose by 63% in 2024 to Rs 1.53 lakh crore while that of Mumbai stood at Rs 1.38 lakh crore, up 13% and Hyderabad at Rs 1.05 lakh crore, down 18%: PropEquity

Investcorp Real Estate, 6 others settle AIF rule violation case with Sebi

Investcorp Real Estate Yield Fund and six others have settled with markets regulator Sebi a case of flouting Alternate Investment Funds (AIF) rules on payment of Rs 25.5 lakh towards settlement amount. Apart from Investcorp Real Estate Yield Fund, Investcorp India Asset Managers, Ajay Kumar, Niraj Sirsalewal, Ritesh Vohra, Gaurav Sharma and IDBI Trusteeship Services Ltd have settled the case. The order came after the entities filed applications proposing to settle the proceedings that may be initiated against them for the violation of the provisions of the AIF Regulations, through a settlement order and remitted Rs 25.50 lakh. In its settlement order passed on Friday, Sebi said the "specified proceedings, in respect of which the notice was issued, are hereby settled in respect of the applicants". While examining the matter, Sebi observed that the tenure of the Investcorp Real Estate Yield Fund had been extended beyond 2 years and that its investments had not been liquidated within

NCLT approves resolution plan for Universal Buildwell's stalled projects

It is one of the most complicated cases, involving multiple projects in prime locations in Faridabad and Gurugram and more than 1,000 homebuyers

Akshay Kumar sells Mumbai apartment in Borivali East for Rs 4.35 crore

The 1,073 sq ft apartment was bought in November 2017 for Rs 2.37 crore