Page 75 - Real Estate

Rising interest rates, prices hurt real estate demand: Hiranandani Group MD

The Indian real estate sector witnessed a decline in affordable housing launches and overall sales in the September quarter of 2024

DLF expects Rs 26,000 cr from super luxury project in Gurugram, says MD

Realty major DLF is expecting Rs 26,000 crore in revenue from its new super-luxury project in Gurugram at the current selling price, and the sales numbers may rise further due to high demand, its MD Ashok Tyagi said on Saturday. DLF has done a pre-launch of its 17-acre super-luxury housing project The Dahlias at DLF 5, Gurugram, and has received a good response from the customers. It received RERA approval at the beginning of this month to launch this project. The company will develop around 420 ultra-luxury apartments in this project. The minimum size of an apartment is 10,300 square feet. In a conference call with market analysts, DLF MD Tyagi informed that the company expects a revenue of Rs 26,000 crore from this super luxury project. "In RERA, what we have filed now, is the revenue of Rs 26,000 crore based on the pre-launch price. These numbers will obviously keep on going upwards as prices keep on moving," Tyagi said while replying to a query regarding the revenue potential o

DLF's sales bookings rise 66% to Rs 7,094 cr in Apr-Sept despite weak Q2

Realty major DLF's sales bookings increased 66 per cent to Rs 7,094 crore in the first half of this fiscal on strong housing demand. Its sales bookings stood at Rs 4,268 crore in the year-ago period. The company has been able to achieve growth in sales bookings during the April-September period of this fiscal because of the robust performance in the first quarter. DLF's sales bookings jumped over three-fold to around Rs 6,400 crore during the first quarter of this fiscal from Rs 2,040 crore in the year-ago period. However, in the second quarter of 2024-25, the sales bookings fell 69 per cent to Rs 692 crore from Rs 2,228 crore a year ago. In an investor presentation, DLF pointed out that there has been a "moderation in sales on account of delay in receiving requisite approvals for new product launches". In the current quarter, the company has received approval for its super-luxury housing project 'The Dahlias' at DLF 5, Gurugram. "We remain on track to meet our guidance for the

Uttar Pradesh estimates festival shopping to top Rs 1 trillion this year

Lighting solutions major Philips is also bullish on the potential of the UP market owing to the large consumer base, rising economy landscape and expanding real estate

Mindspace REIT's net operating income rises 5% to Rs 503 crore in Q2

REIT's net profit declined by 11.03 per cent YoY to Rs 125.63 crore, missing the Bloomberg estimate of Rs 164.1 crore

Kalyani Developers plans to invest Rs 5,300 cr on housing, hotel projects

Bengaluru-based Kalyani Developers plans to invest around Rs 5,300 crore to develop housing and hospitality projects in South India. In a statement on Thursday, the company announced its foray into the residential segment with three projects planned in North Bengaluru, Whitefield and Kanakapura Main Road. The company is also planning a mixed-use development in Hyderabad. "The overall investment for these projects would be around Rs 4,500 crore over the next two years. The company is also planning Rs 800 crore investment in two hotels comprising 300 rooms each in North Bengaluru," it added. "Over the past three decades, we have established a strong reputation in commercial real estate, hospitality, automobiles (with more than 75 showrooms in Bangalore, Mysore, and Hyderabad), and renewable energy...," A Mohan Raju, Managing Director and CEO, Kalyani Developer, said. The residential segment presents a significant opportunity for the company to leverage this legacy and expertise, he

Bachchan family's real estate investments cross Rs 100 cr mark in 2024

Actor Amitabh Bachchan's latest acquisition is worth Rs 24.95 crore in Mulund

Delhi-NCR sees biggest jump in property prices at 57%; Hyderabad lowest

Barring Hyderabad where the YoY increase was 7%, all cities covered in the analysis saw annual price growth in double digits.

Average office rents across top 6 cities breach pre-pandemic levels: Report

Office rents in Delhi-NCR clock the highest increase, rising by 8.3% in 2024 compared to 2019

Bungalow in New Delhi's upscale Sunder Nagar sells for Rs 96 cr: Report

Real estate consultant CBRE facilitated the sale of this bungalow.

Arkade Developers eyes Rs 4,000 crore topline from ongoing projects

The company will launch a project in Thane with an estimated revenue potential of Rs 2,000 crore in FY2026

Aditya Birla Real Estate's Q2 total income rises 30% to Rs 1,130 crore

The company's net profit for the quarter stood at Rs 2.82 crore against the loss of Rs 32.87 crore it incurred in Q2 FY24

Arkade Developers to invest Rs 570 cr on new luxury project in Mumbai

Realty firm Arkade Developers Ltd will invest Rs 570 crore to develop a luxury real estate project in Mumbai. The project "Arkade Rare" is spread over 3 acres and located at Bhandup West in Mumbai. The company will develop 432 residential units along with 43 commercial units. "The total construction area is approximately 7,25,000 square feet which will be developed in a single phase with an estimated sales value of Rs 760 crore," the company said in a regulatory filing on Monday. Amit Jain, Chairman and Managing Director, Arkade Developers Limited said the company is expanding its presence in the eastern suburbs of Mumbai. "With 'Arkade Earth in Kanjurmarg' and the under-construction 'Arkade Nest' in Mulund West, we're building a strong pipeline in this corridor. Arkade Rare in Bhandup West further solidifies our commitment to developing luxury, community living projects within the Kanjur-Bhandup-Mulund corridor," Jain added. Arkade Developers recently got listed on stock exchange

UK commercial property biz reviving, property sales to test market appetite

New office buildings are seeing robust demand, with investor M&G's new office towers at 40 Leadenhall in the City of London more than 80 per cent let

Arkade Developers to launch residential & commercial projects, stock up 3%

The surge in Arkade Developers share price came after the company announced that it will launch a residential and commercial project, Arkade Rare - Bhandup, in Mumbai, on October 26

Foreign investors infuse $436 mn in real estate in Q3 2024, up 139%: Report

Overall, the sector received institutional investments of $0.96 billion during the quarter

Real estate remains most preferred asset class for investment: Report

According to a survey by FICCI and Anarock, 59% of respondents across 14 cities favoured real estate as the most preferred asset class

Institutional investment in real estate up 31% to $4.61 bn in Jan-Sep: Rpt

Institutional investments in the Indian real estate sector increased 31 per cent year-on-year to USD 4.61 billion in January-September 2024 amid strong consumer demand, according to Vestian. Real estate consultant Vestian on Monday released its report on 'Investment in Indian Real Estate', observing that funds' inflow from institutional investors in the first nine months of 2024 has already surpassed the total for 2023. "Investors have shown confidence in India's growth story on the back of robust GDP growth. As a result, the real estate sector witnessed increased participation from foreign investors which led to institutional investments touching a billion mark in Q3 2024," Shrinivas Rao, CEO of Vestian said. He noted that domestic investors are also actively participating, supported by the rapid infrastructure development across the country. During the latest July-September quarter, institutional investments in real estate rose 41 per cent to USD 960.8 million from USD 679.9 ...

At 5,253 Cr, Pune's stamp duty collections jump 38% in nine months of 2024

The city recorded 1,38,412 property registrations, marking a significant 29 per cent increase compared to the same period in 2023

This realty stock has surged 50% in 2 weeks; zoomed 107% thus far in CY2024

Ajmera Realty hit a new high of Rs 908, surging 5% after the company's board approved issue of equity shares to investor Mukul Mahavir Agrawal and Authum Investment & Infra on preferential basis.