Page 72 - Real Estate

Chennai to have 450 GCCs by 2030 against current 250 centres: CBRE

Chennai is estimated to have around 450 Global Capability Centres (GCCs) by 2030 as against 250 centres now because of supply of premium office space and availability of skilled talent, according to CBRE. Real estate consultant CBRE on Wednesday released a report titled, Tamil Nadu: The Epicentre of Capability and Innovation Leadership', highlighting Chennai's rising prominence as a key destination for GCCs and its expanding commercial real estate landscape. "Over the years, Chennai has solidified its position as a preferred hub for global corporates, which accounts for 11 per cent of India's current GCC talent. The city currently hosts 250+ GCC units, which is expected to reach around 450-460 units by 2030," CBRE said. Chennai's robust infrastructure, proactive state government policies, and quality office development are aligned to meet the needs of global corporates, it added. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, As ..

Emami Realty to develop Rs 15,000 cr worth realty projects in 7 years

Kolkata-based Emami Realty will develop 22 million square feet of residential and commercial spaces over the next seven years with an estimated revenue potential of Rs 15,000 crore. In a statement on Wednesday, Emami Realty said it will "develop 22 million square feet of residential and commercial spaces over the next 7 years across major cities in India." "This ambitious expansion underscores Emami Realty's commitment to enhance urban living and drive the growth of India's real estate sector, with a projected revenue potential of Rs 15,000 crore," it added. Nitesh Kumar, MD & CEO of Emami Realty, said, "Our commitment to developing 22 million square feet of residential and commercial spaces over the next seven years reflects our unwavering dedication to enhancing urban living and driving the growth of India's real estate sector." Emami Realty's extensive development plan includes a diverse portfolio of projects across key locations in India, including Kolkata, Chennai, Mumbai, ...

Want passive income? Ahmedabad leads with highest rental yield of 3.9%

Highest rental yields are not in traditional investment hubs like Bengaluru or Delhi but in Ahmedabad, Hyderabad, Kolkata, and Pune. These cities are becoming hotspots for investors.

Alternative investment funds gain currency as fundraise tops Rs 5 trillion

Funds raised and commitments in AIFs have surged 30% Y-o-Y

Nippon Life India acquires commercial spaces worth Rs 486 crore in Mumbai

The transactions were registered with the inspector general of registration (IGR) on November 21

Realty most violative sector on problematic advertising in Apr-Sep: Report

The real estate sector has emerged as the most violative segment in advertising during the first half of FY25, accounting for over a third of the problematic campaigns, a report said on Tuesday. The report by the Advertising Standards Council of India (ASCI) said the self-regulatory body received 4,016 complaints during the first half, of which 3,031 were investigated and 98 per cent of them needed some modification. From a media perspective, digital platforms contributed to 2,830 or 93 per cent of the ads processed by the body. When it comes to violations of the code, the real estate sector is followed by illegal betting at 29 per cent, healthcare at 8 per cent, personal care at 7 per cent, and food and beverages at 6 per cent. The body reviewed 2,115 ads from the realty sector, of which 1,027 were processed for potential violations of the MahaRERA Act, an official statement said. On the illegal betting front, the body said 890 ads were flagged to the Ministry of Information and

Godrej Properties to gain from strong land portfolio, demand outlook

GPL's pipeline for H2FY25 has a GDV of Rs 15,000 core including projects in Gurugram, NOIDA, Mumbai, Pune and Hyderabad

Goyal asks real estate developers to adopt environment-friendly techniques

Amid concerns over high pollution levels in the national capital, Union Minister Piyush Goyal on Monday asked real estate developers to adopt environment-friendly construction techniques and suggested CREDAI to set up a team to study the adverse impact of construction activities on air quality of 20 major cities. Addressing realtors' apex body CREDAI's 25th foundation day, the Union Commerce and Industry Minister also asked developers to build affordable rental housing projects to prevent the proliferation of slums in urban centres. Goyal also suggested CREDAI members to consider venturing into overseas markets to tap opportunities in real estate development and redevelopment. "I had asked CREDAI to consider setting up a team to study whether, at least in the metropolitan cities or the 20 top towns of the country, where we can see the impact of construction leading to pollution, leading to air quality deteriorating." He stressed the need to adopt better construction techniques usin

Realty boom: Godrej Properties, Macrotech drive Rs 35,000 cr sales

Godrej Properties emerged as the largest listed player during July-September quarter with pre-sales of Rs 5,198 crore. Mumbai-based Macrotech Developers, which sells properties under the Lodha brand.

India's 26 major realty firms sell Rs 35,000 cr worth properties in Q2

India's 26 major listed real estate firms have sold properties worth nearly Rs 35,000 crore during the September quarter with Godrej Properties reporting highest sales bookings. According to the data compiled from regulatory filings, the 26 major listed realty firms have reported a combined sales bookings of Rs 34,985 crore in the second quarter of the current fiscal year. Bulk of pre-sales (sales bookings) came from residential segment. In terms of sales bookings, Godrej Properties emerged as the largest listed player during July-September quarter with pre-sales of Rs 5,198 crore. Mumbai-based Macrotech Developers Ltd, which sells properties under the Lodha brand, reported sales bookings of Rs 4,290 crore during the quarter under review. Delhi-NCR-based Max Estates sold properties worth Rs 4,100 crore, while Bengaluru-based Prestige Estates Projects Ltd clocked sales bookings of Rs 4,022.6 crore during the quarter. Delhi-NCR based Signature Global achieved sales bookings of Rs 2

Signature Global to launch housing projects worth Rs 50K cr in next 3yrs

Realty firm Signature Global Ltd plans to launch multiple housing projects worth Rs 50,000 crore in Delhi-NCR over the next three years as part of its expansion plan amid strong consumer demand. Signature Global, listed on stock exchanges, is one of the leading real estate firms in the country. It sold properties worth Rs 7,200 crore last fiscal and is targeting to sell Rs 10,000 crore this fiscal. In an interview with PTI, Signature Global Chairman Pradeep Aggarwal noted that housing demand continues to be strong in Gurugram, and the company would keep expanding its presence by launching more projects and acquiring new land parcels. "We have a strong launch pipeline. We are targeting to launch projects worth Rs 50,000 crore over the next three years," he said. The company has already acquired land in Gurugram and adjoining areas to launch multiple projects, Aggarwal noted. "We gave guidance to launch Rs 16,000 crore worth of projects during the current fiscal year. We achieved Rs

Maharashtra election results: What Mumbai homebuyers expect from new govt

Mumbai homebuyers await the new Maharashtra government's reforms on taxes, affordable housing, and infrastructure

APAC investors invested $1.3 bn in Indian real estate between Jan-Sep 2024

Indian real estate received institutional investments of $4.7 billion between January and September 2024

Raymond receives NOC from exchanges for demerger of its realty business

After the demerger, the resulting company, Raymond Realty Limited (RRL), will be listed on both stock exchanges after obtaining the necessary approvals

NCLAT limits insolvency proceedings against Raheja to one project only

In a relief to Raheja Developers, the appellate tribunal NCLAT has confined the insolvency proceedings against the realty firm to only one of its projects 'Raheja Shilas'. However, it has directed Raheja Developers to provide the details regarding the other incomplete projects and the status of all ongoing projects, enabling appropriate orders to be passed. A three-member bench of the National Company Law Appellate Tribunal (NCLAT) led by Chairperson Justice Ashok Bhushan, directed the Interim Resolution Professional (IRP) to collate the claims related to the project and submit the status report. "We are of the view that, for the time being, as was prayed by the Applicant/Respondent herein, the insolvency may convene to one Project, namely 'Raheja Shilas (Low Rise)," said NCLAT in its interim order passed on Thursday. The NCLAT direction came over a petition filed by Navin Raheja, Chairman & Managing Director of the suspended board of the realty firm challenging an order from ...

Bengaluru's avg home price drops to Rs 62 lakh, 86% of sales below Rs 1 Cr

During the July-September quarter, Bengaluru saw an 8% decrease in the number of residential units sold compared to the previous year.

Signature Global to beat estimate of Rs 10,000 cr on high demand: Chairman

Realty firm Signature Global Ltd is likely to exceed its sales bookings target of Rs 10,000 crore on strong housing demand in Gurugram property market, its Chairman Pradeep Aggarwal said. In an interview with PTI, he highlighted that the company has achieved Rs 5,900 crore worth sales bookings in the first half of this fiscal. "We had given a pre-sales (sales bookings) guidance of Rs 10,000 crore for the current fiscal. We were among few listed real estate developers to set such a big target," Aggarwal said. Considering the strong performance in the first six months, he said, "We are quite hopeful of over-achieving of our annual guidance." There is a strong launch pipeline for the second half of this fiscal, he said, adding the inventories in new as well as existing projects would help in achieving the taret comfortably. Signature Global's sale bookings jumped over three-time to Rs 5,900 crore in the April-September period of 2024-25 fiscal from Rs 1,860 crore in the correspondin

Equity investments in real estate may rise 49% to $11 bn this yr: CII-CBRE

Equity investments in Indian real estate may rise 49 per cent to USD 11 billion this calendar year amid strong demand for properties, according to CII and CBRE. In 2023 calendar year, the equity investments in real estate stood at USD 7.4 billion. Industry body CII and real estate consultant CBRE on Wednesday released a joint report titled 'Leading the Charge: Crafting the Skylines of Tomorrow' at the annual CII Realty 2024 conclave. Equity capital inflows touched USD 8.9 billion between January and September, registering a 46 per cent year-on-year growth. "Overall equity investments in 2024 in the real estate sector are set to hit a new record surpassing USD 10 billion for the first time," the report said. With a resurgence in investment inflows in built-up office assets and a strong acquisition pipeline for land in the residential sector, the overall equity investments in 2024 would be in the USD 10-11 billion range. During January-September, institutional and collective vehicl

Conflict in Myanmar sparks surge in property purchases in Thailand

From January to September, over 1,000 units worth 5.46 billion baht ($158 million) were sold to Myanmar nationals, REIC data showed

Average home prices in top 7 cities touch Rs 1.23 cr, up 23% on year

In H1 FY2024, avg. ticket size of homes sold across top 7 cities was approximately Rs 1 crore.