Page 66 - Real Estate

Dubai's Emaar confirms stake sale talks with Adani Group for Indian ops

Dubai's Emaar confirms it's in talks with Adani Group to sell a stake in its Indian subsidiary. The deal, valued at Rs 40-50 billion, is still being finalised

New home prices in China flat for first time in 18 months after govt push

Beijing rolled out a slew of measures in the second half of last year to stabilise the real estate market, including cutting mortgage rates and allowing local governments to buy unsold housing units

Housing sales in top 8 cities down 26% in Dec qtr, up 6% in 2024: PropTiger

Housing sales declined 26 per cent to 1,06,038 units across eight major cities during the December quarter on lower demand mainly due to high prices, according to PropTiger. Sales stood at 1,43,482 units in the year-ago period. Real estate consultant PropTiger, however, said that sales of residential properties in 2024 rose 6 per cent to 4,36,992 units from 410,791 in the year-ago period across eight major cities --Ahmedabad, Bangalore, Chennai, Hyderabad, Kolkata, Delhi-NCR (Gurugram, Noida, Greater Noida, Ghaziabad and Faridabad), Mumbai Metropolitan Region (Mumbai, Navi Mumbai & Thane) and Pune. Commenting on the report, Dhruv Agarwala, Group CEO, Housing.com & Proptiger.com said, "While the October-December festive period, saw a Q-o-Q increase in sales as expected, there was a Y-o-Y decline in both sales and new launches across most regions. Factors such as global economic uncertainties, major state elections, and property price increase across the country led to a ...

MicroMitti raises Rs 90 cr for proptech growth, real estate investments

Proptech firm MicroMitti has raised Rs 90 crore from investors to expand its business. In a statement on Thursday, MicroMitti said the company raised Rs 17.06 crore through a seed funding round for MicroMitti holding firm promoting real estate investment vehicles like SM-REIT (small and medium real estate investment trust), AIF (alternate investment fund) and private equity. It also raised Rs 72.94 crore for MicroMitti's special purpose vehicles doing real estate projects in Indore. Manoj Dhanotiya, founder and CEO of MicroMitti, said, "This funding marks a significant milestone for MicroMitti and highlights the trust and confidence of Indore's business community in our vision. The capital raised will fuel the expansion of our proptech platform, with a focus on AI-driven analytics and automation, while also supporting large-scale real estate developments aimed at generating long-term wealth. MicroMitti has also launched its US arm MicroMitti Inc. The expansion aims to attract globa

Institutional investments in real estate jump 61% in 2024: Vestian

Institutional investments in Indian real estate rose 61 per cent to USD 6.8 billion last year but attracting funds could be challenging in 2025 due to global uncertainties, according to Vestian. Institutional investments stood at USD 4.3 billion in 2023, real estate consultant Vestian said in a statement. Shrinivas Rao, CEO of Vestian, said, "Despite a slow start, the real estate sector received significant institutional investments in 2024, surpassing pre-pandemic levels." However, Rao said, "2025 is expected to be challenging due to increasing geopolitical friction, a slowdown in the global economy, and elevated inflation levels." Out of the total institutional investments, the residential sector reported investments worth USD 2 billion, accounting for 30 per cent of share. Investments in housing segment rose by 171 per cent in 2024 over the previous year. Commercial assets, which include office, retail, co-working, and hospitality projects, received 35 per cent of the total ..

Dharavi redevelopment project to transform realty in nearby areas too

Developers banking on its strategic location and improved connectivity

Nearly 19,000 flats priced Rs 2-5 cr sold in NCR in 2024, 84% sales growth

Properties priced above Rs 1 crore have contributed to 80% of the total residential sales volume in the region.

Budget 2025: What real estate sector seeks for homebuyers under Modi 3.0

Home affordability remains a pressing concern in India, with rising costs keeping ownership out of reach for many

Indian realty sector sees 6% rise in PE investment to $2.82 bn: Anarock

Private equity investment in Indian real estate rose 6 per cent to USD 2.82 billion during the April-December period of this fiscal, driven by a surge in fund inflow in industrial & logistics parks, according to Anarock. Real estate consultant Anarock data showed that the Private Equity (PE) investment in real estate rose 6 per cent to USD 2.82 billion during the April-December period of this fiscal from USD 2.66 billion in the year-ago period. The number of PE deals dropped to 24 during the first nine months of the 2024-25 fiscal from 30 in the year-ago period. As per the data, foreign funds contributed 82 per cent to the total PE investments during April-December 2024, while domestic only 18 per cent. Among assets class, the industrial and logistics sector accounted for 62 per cent of the total investments, housing 15 per cent, office 14 per cent and mixed-use projects 9 per cent. Shobhit Agarwal, MD and CEO, Anarock Capital, said, the top 10 deals comprised 93 per cent of total

Claim your family flat: New rules for heirs of deceased tenants in Maha

If a tenant has died, their family members (like children or a spouse) can now get the keys to the flat, but there are some rules. They have to prove they are the rightful heirs

Realtors seek stamp duty cuts, revised home loan limits in Budget

The year 2024 has seen a slowdown in real estate due to general and state elections, with housing sales in the top seven cities declining by 4 per cent

NCLAT gives go-ahead for Indiabulls Real Estate-Embassy Group merger

In a major relief to Indiabulls Real Estate (IBREL) and Embassy Group, the appellate tribunal NCLAT has sanctioned the scheme of amalgamation to merge both the real estate firms after setting aside the NCLT order stalling the process. "We set aside the impugned order of NCLT, Chandigarh and allow the prayer to sanction the scheme of amalgamation between the appellants (Indiabulls Real Estate, Embassy one & NAM Estates)," said a two-member NCLAT bench. The merger was on hold for the last 18 months, as the Chandigarh bench of the NCLT had withheld its permission in May 2023, despite all regulatory clearances from the CCI, bourses, RoC and approval from respective shareholders and creditors. The appellate tribunal said the National Company Law Tribunal (NCLT) should not have interfered in the valuation done by the experts using one of the standard prescribed valuation methods. "After going through the facts and circumstances and the relevant judicial precedences, we hold that NCLT, .

Realtors, investors puts $11.4 billion in Indian real estate in 2024: CBRE

Indian real estate attracted equity investments of USD 11.4 billion last year, up 54 per cent annually, mainly from developers and institutional investors, according to CBRE. The growth in equity investments was made in land acquisitions as well as developments across all asset classes of real estate, real estate consultant CBRE said in a report released on Friday. Domestic investments remained the primary driver, with around 70 per cent share in total equity investments in 2024 calendar year. Singapore, the US, and Canada cumulatively contributed more than 25 per cent of the total equity investments in Indian real estate in 2024. Developers led the way in capital inflows, capturing around 44 per cent of the total equity investments in 2024, followed by institutional players at 36 per cent, corporations at 11 per cent, REITs at 4 per cent, and other categories comprising around 5 per cent. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, .

MahaRERA freezes accounts of 1950 stalled realty projects to protect buyers

This action follows the authority's issuance of show-cause notices to approximately 10,771 projects for failing to comply with mandatory disclosure requirements.

Godrej Properties acquires 24 acre land in Indore; eyes Rs 500 cr revenue

Real estate company Godrej Properties Ltd on Friday said it has acquired 24-acre land in Indore to develop residential plots and expects around Rs 500 crore revenue from this upcoming project. In a regulatory filing, Godrej Properties informed it has acquired about 24-acre of land in Indore. The company did not divulge the total cost of the land parcel. "The project will have an estimated revenue potential of around Rs 500 crore," Godrej Properties said The development on this land will primarily comprise premium plotted residential units and will offer an estimated saleable area of around 6.20 lakh square feet. After acquiring 46-acre in July 2024 on Indore-Ujjain Road, this will be the company's second acquisition in Indore. Gaurav Pandey, MD & CEO, Godrej Properties, said the company has expanded its presence in Indore with this land acquisition. "With residential plotted developments gaining momentum, the Indore bypass road presents a promising opportunity for us to expand.

Ashiana Housing sales bookings jump over 2.5 times to Rs 454 crore in Q3

Realty firm Ashiana Housing has reported over 2.5-fold jump in its sales bookings to Rs 454.31 crore in the quarter ended December on strong demand for its residential properties. The company's sales bookings stood at Rs 173.88 crore in the year-ago period. During April-December period of this fiscal, Ashiana Housing sales bookings increased to Rs 1,362.17 crore from Rs 935.68 crore in the corresponding period of the preceding year, according to the latest regulatory filing. During the third quarter of 2024-25 fiscal, Ashiana Housing sold 451 units as against 252 units booked in the year-ago period. Delhi-based Ashiana is one of the leading real estate developers in the country. The company is mainly into the housing segment and specialises in senior living homes. During the 2023-24 financial year, Ashiana Housing had sold properties worth Rs 1,798.22 crore. From the past 6-7 years, real estate developers having good track record of executing projects are gaining market share at

How MySoho is Pioneering a New Era of CoWorking Space with the Innovative Asset-Light Model

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Keystone Realtors sale bookings up 40% to Rs 863 crore in Q3 on high demand

Keystone Realtors Ltd on Thursday reported a 40 per cent growth in sale bookings to Rs 863 crore in the December quarter on robust housing demand. Keystone Realtors markets its properties under Rustomjee brand. In a regulatory filing, the company informed that its pre-sales or sale bookings stood at Rs 863 crore during the third quarter of this fiscal from Rs 616 crore in the corresponding period of the preceding year. During the April-December period of this fiscal, the pre-sales increased to Rs 2,174 crore against Rs 1,423 crore in the year-ago period. "In the third quarter of 2024-25, we saw impressive growth across key business indicators," Boman Irani, Chairman and Managing Director of Keystone Realtors, said. He said the company has almost achieved the pre-sales of 2023-24 in just 3 quarters of this fiscal, "putting us in a strong position to achieve the full year pre-sales guidance given by us". Irani expressed confidence that the company is well-positioned to not only sec

Poised to achieve portfolio of 700 hotels by 2030, double revenue: IHCL

Tata Group-backed Indian Hotels Company on Thursday said it is "well poised" to achieve the portfolio of 700 hotels by 2030 under its "Accelerate 2030" strategy. The country's largest hospitality firm currently has 360 hotels under its portfolio, including 237 operational and 123 hotels in the pipeline. "IHCL is well poised to achieve its goal of a 700 hotel portfolio under its strategy - Accelerate 2030," the company said. IHCL also said it executed "85 signings and 40 openings in 2024". Suma Venkatesh, Executive Vice President - Real Estate & Development, IHCL said, "In line with IHCL's strategy Accelerate 2030, the growth continues to be focused on capital light, accounting for 75 per cent of the year's signings." She added, "The iconic Taj brand remains at the forefront of this growth with 19 signings in 2024. This is reflective of the growing affluence and demand for luxury experiences with signings spanning metros, pilgrimage locations, leisure destinations, state capitals .

59 luxury homes over Rs 40 cr sold in 2024, 16 in Mumbai over Rs 100 crore

Mumbai dominated with 52 ultra-luxury residential deals in 2024, comprising an 88% share of total deals. Delhi-NCR recorded 3 deals for two ultra-luxury homes in Gurugram and one in Delhi.