Page 70 - Real Estate

Aurum PropTech Q3 results: Loss narrows to Rs 6.6 cr, revenue up 13%

Real estate technology firm Aurum PropTech's consolidated net loss has narrowed to Rs 6.60 crore in the December quarter on better income. The company's net loss stood at Rs 18.53 crore in the year-ago period. The total income rose to Rs 70.23 crore during the October-December period of this fiscal from Rs 62.09 crore in the corresponding period of the previous financial year, according to a regulatory filing on Monday. During the April-December period of 2024-25, the company's net loss was Rs 26.16 crore against a loss of Rs 51.27 crore in the year-ago period. The total income grew to Rs 206.94 crore in the first nine months of this fiscal from Rs 167.33 crore in the corresponding period of the preceding financial year. Aurum PropTech is into property management and co-living businesses as well as real estate data analytics and sales-marketing automation segments. Onkar Shetye, Executive Director of Aurum PropTech, said: "With focussed execution, we have delivered consistent rev

Hyderabad's real estate sees robust growth in 2024 despite year-end dip

Property sales rise by 7 per cent, with a 23 per cent increase in transaction value; December registrations show a 20 per cent decrease compared to last year

Amitabh Bachchan sells his duplex apartment in Mumbai for Rs 83 cr

The property is located in The Atlantis, a residential project by Crystal Group in Mumbai's Oshiwara

Most expensive deal of 2024: Metro promoters buy Rs 405 cr home in Mumbai

Metro Group Promoters purchased their home in the iconic Palais Royale in Worli, Mumbai, for Rs 405 cr. This marked a 31% increase vs the most expensive home sale of 2024

Country Garden expects to reach terms with creditors in Feb, tells lawyer

Country Garden said earlier this month it has proposed to creditors a debt restructuring that would cut its offshore debt worth $16.4 billion by 70 per cent

Statsguru: Commercial realty sees growing demand amid limited supply

Office space supply reduced 9.35 per cent year-on-year in 2024, while the demand increased by 21.9 per cent

Sales of homes priced below Rs 50 lakh fall 14% in 2024 in 7 cities: JLL

Sales of apartments, costing less than Rs 50 lakh each, fell 14 per cent to 38,626 units in 2024 across seven major cities on lesser launches of affordable housing projects and rising prices, according to JLL India. Real estate consultant JLL India data showed that sales of apartments across seven major cities during 2024 witnessed sustained growth, reaching a record-high volume of 3,02,867 units, up 11 per cent from 2,71,818 units in the preceding year. The seven cities are Mumbai (including Mumbai city, Mumbai suburbs, Thane city, and Navi Mumbai), Delhi-NCR (including Delhi, Gurugram, Noida, Greater Noida, Ghaziabad, Faridabad and Sohna), Bengaluru, Pune, Chennai, Hyderabad and Kolkata. The data includes only apartments. Rowhouses, villas, and plotted developments are excluded from the JLL India analysis. Among different price categories, sales of apartments costing less than Rs 50 lakh each fell to 38,626 units from 45,160 units. In the Rs 50 lakh1 crore price category, the s

Q3 FY25 for home developers: Flat pre-sale growth, strong revenue expected

Demand remains strong and developers expected to make launches, according to analysts

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, .