Page 73 - Real Estate

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.

NCLT directs initiation of insolvency proceedings against Raheja Developers

The National Company Law Tribunal has directed to initiate insolvency proceedings against realty firm Raheja Developers on a petition filed by flat allottees of its Gurgaon-based Shilas project. The NCLT said Raheja Developers has a "debt due and default" against the flat allottees, who had made their payments and delivery of the units was not on time and referred it for Corporate Insolvency Resolution Process (CIRP). "The Application bearing... filed by the Applicants under Section 7 of the Insolvency & Bankruptcy Code, 2016, for initiating CIRP against Raheja Developers Ltd is, hereby, admitted," the NCLT said. A two-member NCLT bench, comprising its President Justice Ramalingam Sudhakar and AK Srivastava, has also appointed Manindra K Tiwari as the Interim Resolution Professional for Raheja Developers. "There is a default on the part of the CD (corporate debtor), in terms of nonpayment of the debt due (delivery of the units) against the amount raised from them under the real ..

Hyderabad shines as fastest-growing city driven by real estate growth

Bengaluru tops in terms of socioeconomic performance; Delhi NCR leads in physical infra

Listed REITs disburse over Rs 2,700 crore in H1 FY25, up 14%: IRA

A REIT owns, operates, or finances real estate properties that generate income and allows investors to invest in real estate without having to buy and manage properties directly

Noida leads NCR's price surge: Real estate rates are up 152% in 5 years

The real estate markets in Gurugram, Noida, Greater Noida, and Ghaziabad have seen substantial price increases over the past five years, with prices more than doubling in some areas.

Prestige Estates to launch Rs 52,000 cr housing projects by March 2025

Realty firm Prestige Estates Projects Ltd plans to launch housing projects worth Rs 52,000 crore by March next year to encash surge in demand for residential properties. In its latest investors presentation, Prestige Estates has mentioned that the company plans to launch multiple projects in Bengaluru, Hyderabad, Chennai, Goa, and Delhi-NCR comprising more than 53 million sq ft area with a total sales bookings value of Rs 52,114 crore. According to a transcript of conference call with analysts, Prestige Estates CMD Irfan Razack expressed confidence that the company will be able to meet its sales bookings guidance for this fiscal year at Rs 24,000 crore. During the 2023-24 fiscal year, Prestige Estates clocked record sales booking of Rs 21,040 crore. Prestige Estates recorded sales of Rs 4,022.6 crore in the September quarter as against Rs 7,092.6 crore in the year-ago period. During the April-September period, the company's sales bookings fell to Rs 7,052.2 crore as against Rs ...

Shubhashish Homes Set to Launch New Projects and Expand Footprint Beyond Rajasthan

.

Prices of new housing projects in NCR up over 2-fold since 2019-end: Report

The weighted average price of new residential projects launched in Gurugram, Noida, Greater Noida and Ghaziabad have more than doubled in the last five years, according to PropEquity. In a statement on Friday, real estate data analytic firm PropEquity said that "between 2019 and September 2024, Noida saw the highest rise at 152 per cent to Rs 14,946 per sq ft from Rs 5,910 per sq ft. In Ghaziabad, the weighted average rate has risen 139 per cent from Rs 3,691 per sq ft to Rs 8,823 per sq ft. Gurugram has seen 135 per cent increase in weighted average price of new projects to Rs 19,535 per sq ft in September 2024 from Rs 8,299 per sq ft in 2019. In Greater Noida, the rates quoted by developers for new projects rose 121 per cent to Rs 8,601 per sq ft from Rs 3,900 per sq ft. Samir Jasuja, Founder and CEO of PropEquity, said: "The NCR is witnessing an infrastructural metamorphosis never seen in decades with developments like Noida International Airport, Dwarka Expressway, Delhi-Meeru

PM should set up high-powered panel on urban infra development: KP Singh

Real estate doyen K P Singh has urged Prime Minister Narendra Modi to set up a high-powered cabinet rank committee to prepare a blueprint for the development of urban infrastructure in all major cities that can support USD 5 trillion economy. The urban master planning should not be for a short-term but for 100 years, the 95-year-old Singh said in an interview with PTI on the occasion of the launch of his second book 'Why the Heck Not?'. His autobiography 'Whatever the Odds' was released by Jack Welch, the former Chairman and CEO of GE, in November 2011. Singh, the Chairman Emeritus of realty major DLF, described the current state of urban infrastructure as "horribly wrong" and said there was a need for "drastic steps" as India is growing and soon going to become the third largest economy in the world. Referring to traffic mess in cities including IT city Gurugram which he built and high pollution level, Singh said these are large issues and "it needs attention in my view of the ...

NBR Group Redefines Luxury Living with New Brand Identity, Tagline, and Logo

.

Maharashtra announces step for transparency in real estate brokerage fees

State's real estate regulator says Clause 15A recognises the right of real estate agents to receive payment in the form of fees, charges, commissions, remuneration

Brigade Enterprises Q2FY25 results: Net profit down 11% to Rs 118.98 cr

Realty firm Brigade Enterprises Ltd on Wednesday reported an 11 per cent decline in its consolidated net profit to Rs 118.98 crore in the September 2024 quarter. Its net profit stood at Rs 133.50 crore in the year-ago period. Total income also fell to Rs 1,138.13 crore in the second quarter of this fiscal compared to Rs 1,407.92 crore in the corresponding period of the preceding year, according to a regulatory filing. Bengaluru-based Brigade Enterprises is one of the leading real estate developers in the country.

Equity returns outclass gold, FD, property in the long term: Morgan Stanley

Indian households, Desai wrote, are still under-invested in equities. At cost, only 3 per cent of the household balance sheet is in equities, excluding equity holdings of founders.

Keystone Realtors Q2FY25 results: PAT jumps over 15-fold to Rs 65.55 cr

Realty firm Keystone Realtors Ltd on Monday reported a multi-fold jump in its consolidated net profit to Rs 65.55 crore in the September 2024 quarter. Its net profit stood at Rs 4.17 crore in the year-ago period. Total income, however, declined to Rs 556.22 crore in the second quarter of this fiscal from Rs 633.33 crore in the corresponding period of the preceding year, according to a regulatory filing. Total expenses also declined to Rs 465.09 crore from Rs 640.83 crore. Boman Irani, Chairman and Managing Director of Keystone Realtors Ltd, said, the company has demonstrated remarkable progress in terms of pre-sales, collections, new project additions and new launches so far this fiscal. "Building on the remarkable momentum from FY24, our pre-sales have soared to Rs 700 crore in Q2 FY25, which is more than doubled on a YoY (year-on-year) basis, a testament to our resilience and strategic vision," he said. Further, he added that the company has witnessed strong demand for its ...

Ultra-luxury homebuyers move quick: Conversion time down to 15 days in 2025

An alaysis of the budget category data shows that ultra-luxury homes (priced >Rs 3 Cr) involve the lowest conversion time, clocking in at just 15 days in H1 FY 2025. Back in FY 2024, it was 22 days

Puravankara shares locked in 5% lower circuit after net loss extends in Q2

Shares of Puravankara were locked in a 5 per cent lower circuit at Rs 401.40 per share after the company reported a continuing net loss in its second quarter earnings for the financial year 2024-25

Interarch Building Products plans to double turnover to Rs 2,500 cr by 2028

Interarch Building Products, a leading player in the pre-engineered building industry, is planning to double its turnover to Rs 2,500 crore by 2028, Managing Director Arvind Nanda has said. The company, which got listed recently, clocked a turnover of Rs 1,293 crore in FY24. Interarch Building Products, which raised Rs 600 crore through the initial public offering (IPO), is planning to use the proceeds for capital expenditures, system upgrades, and general corporate purposes. "In our existing three plants, we are also trying to enhance capacity by spending some money there and increasing the capacity utilisation," he said. He further said by building its fourth fully integrated plant in Andhra Pradesh, the company plans to further ramp up its capacity. "We have also bought land in Gujarat, which is going to be a our fifth fully integrated plant, probably starting next year," Nanda said. The company had in September announced the acquisition of 51,926 sq mt land in Gujarat, procur

Brigade Group eyes Rs 800 cr revenue from Chennai real estate project

Realty firm Brigade Group on Thursday said it will develop a mixed-use project in Chennai with an estimated revenue of Rs 800 crore. In a regulatory filing, Brigade Group said it has signed a Joint Development Agreement (JDA) to develop a residential project of around one million sq ft in Chennai. The project will be developed as part of a 1.5 million sq ft mixed use development. The project will have a gross development value (GDV) of about Rs 800 crore, Brigade said in a statement. "This joint development agreement for a 1 million sq ft residential development, forming part of a larger mixed-use development, underscores our commitment to the city's growth and our vision to deliver world-class residential, commercial, retail and hospitality spaces," Brigade Enterprises Managing Director Pavitra Shankar said. By inking this strategic joint development, Brigade Group said it has further solidifies its position as a leading real estate developer in Chennai. Established in 1986, Bri

Include land authority in CoC for real estate insolvency cases: IBBI

The IBC has seen successful resolution in 46 per cent of cases admitted in the real estate sector as of June 2024, IBBI data shows