Page 77 - Real Estate

Office demand high as leasing to cross 80 mn sq ft in top 8 cities: C&W

Gross leasing of office space across top eight cities is likely to cross 80 million square feet this calendar year, beating a record 74.5 million square feet during 2023, according to Cushman & Wakefield. Real estate consultant Cushman & Wakefield on Wednesday released its report on the office market for the third quarter of this calendar year. The gross leasing of office space rose 66 per cent to 24.8 million square feet across the top eight cities in Q3 2024, marking the second highest quarterly leasing volume in the sector's history. During January-September, the gross leasing has reached 66.7 million square feet. Office leasing stood at 49.1 million square feet in 2018; 67.7 million square feet in 2019; 46.6 million square feet in 2020; 50.4 million square feet in 2021; 72 million square feet in 2022; and 74.5 million square feet in 2023. "Strong market fundamentals have sustained extraordinary leasing momentum in the Indian office market, as evidenced by the remarkably ...

Homebuyers' sentiment bullish on hopes of capital appreciation: Magicbricks

Homebuyers' sentiment remains strong on expectations of rise in capital and rental values of residential properties, according to Magicbricks. Real estate platform Magicbricks on Tuesday released 'Housing Sentiment Index' (HSI). "With expectations of capital appreciation and rising rental yields, the homebuyer sentiment continues to grow strong," Magicbricks said in a statement. Based on a survey of over 2,100 customers, the report indicates that the customer housing sentiment index has increased from 149 to 155 in just six months (April vs September 2024). Investor sentiment was also notably robust in Noida and Greater Noida, both recording a high HSI score of 163, while cities such as Gurugram, Ahmedabad, and Hyderabad followed closely with scores of 160 each. Conversely, markets like Delhi (HSI score 151), Bengaluru, and Mumbai (HSI score 148) exhibited relatively lower sentiment, likely attributable to rising property prices. The survey also underscored growing confidence amo

Macrotech acquires 7 land parcels to build Rs 16,600 cr housing projects

Realty firm Macrotech Developers has acquired seven land parcels in Mumbai Metropolitan Region (MMR), Pune and Bengaluru to develop housing projects with an estimated revenue potential of Rs 16,600 crore. Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, has been acquiring land through outright purchases as well as forming partnerships with landowners for joint development. In its latest operational update, the company informed that it has added four projects in Pune and Bengaluru, having Rs 5,500 crore of GDV (gross development value). During the first six months of this 2024-25 fiscal, the company has added projects worth Rs 16,600 crore, which is more than 75 per cent of its full year guidance of Rs 21,000 crore. The company had acquired three land parcels in the MMR and Pune during the April-June quarter to develop projects with a revenue potential of Rs 11,100 crore. Out of the total 7 land acquisitions, the company did not provide details

PE investments in Indian real estate sector decline 4% in H1 FY25

The decline is said to be mainly due to a 79% drop in investments in the office sector

Real estate transactions fall by 71% in 2024Q3; what's driving the decline?

The sharp fall in transaction value can be attributed to the absence of large-scale deals, said the Grant Thornton report

Equity investments in Indian real estate up 46% to $8.9 bn in Jan-Sep: CBRE

Equity investments in Indian real estate rose 46 per cent to USD 8.9 billion during January-September this year, according to CBRE. Real estate consultant CBRE noted that the equity investment in real estate is the highest since 2018 calendar year. Equity investments include those by private equity funds, pension funds, sovereign wealth funds, institutional investors, real estate developers, real estate fund-cum-developers, investment banks, corporate groups, and REITs, etc. As per the data, the equity investments in real estate stood at USD 5.8 billion in 2018; USD 6.4 billion in 2019; USD 6 billion in 2020; USD 5.9 billion in 2021; USD 7.8 billion in 2022; and USD 7.4 billion in 2023 calendar year. Investment activity in India's real estate market scaled a new peak in January-September 2024, on the back of a resurgence in capital deployment during the June quarter, Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa at CBRE, said. "Sustained ...

A real estate hotspot: Everybody wants a 'piece' on Dwarka Expressway

For the coming years, the industry seems optimistic on their bet on the expressway

Dubai's growing expat population putting strain on its infrastructure

The growth has stoked the economy, and that's helped propel Dubai's benchmark index into the ranks of the best global performers this year

Gaurs Group to invest Rs 4,000 cr to build 17 acre project in Noida: CMD

Realty firm Gaurs Group will invest about Rs 4,000 crore to develop a 17-acre commercial project in Noida as part of its strategy to build rental assets, a top company official said. Gaurs Group Chairman and Managing Director (CMD) Manoj Gaur said the company will develop 5 million (50 lakh) sq ft of commercial space in the upcoming Grade-A project. "We are planning to develop a large commercial project on Noida Expressway. The total area will be about 5 million sq ft, of which 2.5 million sq ft will be retail, 2 million sq ft office and a hotel with more than 300 keys," Gaur said. He said the company will develop the project on lease model to boost its annual rental income that currently stands at more than Rs 125 crore. Asked about investment, Gaur said it will be about Rs 4,000 crore. The company is targeting to start construction of this project before March 2024. Gaur said the company will fund investments on existing as well as upcoming projects through internal accruals a

ATS Homekraft sells 340 flats on Dwarka Expressway, Gurugram for Rs 825 cr

Realty firm ATS Homekraft has sold entire around 340 luxury homes in first phase of its new project on Dwarka Expressway, Gurugram for Rs 825 crore on strong demand from end-user customers. ATS Homekraft, a flagship company of ATS group, has launched premium residential project 'Sanctuary 105' along the Dwarka Expressway in Sector 105 early this month. The company received good response from the end-consumers and has been able to sell the entire 334 units launched in phase 1 of this housing project, which is spread over 13 acres. The company got expression of interests from more than 700 customers who wanted to purchase in this project. The sale bookings value of these 334 units is Rs 825 crore. Udaivir Anand, Managing Director of ATS Homekraft, said the company launched this new luxury housing project at an affordable rate to target end-users and first time homebuyers. Post-COVID, he said, the Gurugram market has seen many new projects in a price bracket of more than Rs 5 crore p

Signature Global net debt up 4% in Q2 to Rs 1,020 cr; eyes to tap demand

Realty firm Signature Global's net debt rose by 4 per cent in September quarter to Rs 1,020 crore as it looks to expand business amid strong consumer demand for housing properties. The company's net debt stood at Rs 980 crore at the end of June quarter FY25. Earlier this week, Signature Global reported that it has achieved a nearly three-fold increase in its sale bookings to Rs 2,780 crore during the second quarter on better demand for its housing projects. Its sale bookings or pre-sales stood at Rs 980 crore in the year-ago period. "Despite the 'shradhh' period, Q2, FY25 pre-sales amounted to Rs 27.8 billion, a 184 per cent increase against Q2, FY24," Signature Global had said in a regulatory filing. The company's sale bookings jumped over threefold to Rs 5,900 crore in April-September 2024-25 from Rs 1,860 crore in the year-ago period. Signature Global, which has a significant presence in the Gurugram market, clocked sale bookings of Rs 7,270 crore in 2023-24 and has a target o

China shores up its property sector, signals more spending is coming

Local governments will be allowed to use special bonds to buy unsold homes, Finance Minister Lan Fo'an announced

Indian hostel chains aim for global expansion amid rise of digital nomadism

The Hosteller recently raised $4 million in its Series A funding to expand its base of hostels, marketing, and other general purposes

Oberoi Realty's board approves proposal to raise up to Rs 6,000 cr

Company acquired Nirmal Lifestyle Realty Private under the Insolvency and Bankruptcy Code in August

Truth about India's realty prices: Underperfoming amid lofty projections

Global housing markets are appreciating much better

Realty projects worth Rs 7,200 crore get Uttar Pradesh govt approval

These realty projects will come up in the major towns of Noida, Ghaziabad, Lucknow, Agra, Meerut, Prayagraj, Gorakhpur, Jhansi and Moradabad

Top eight listed developers pare debt by 54% in Q1 FY25, says report

Net debt of the top eight listed developers collectively stands at approx. Rs 20,808 crore as of Q1 FY25-end

Puravankara bookings fall 17% to Rs 1,331 cr despite strong housing demand

Realty firm Puravankara Ltd's sale bookings fell 17 per cent to Rs 1,331 crore in the second quarter of this fiscal year despite strong housing demand. Its sale bookings stood at Rs 1,600 crore in the year-ago period. The company sold properties worth Rs 2,459 crore during the first six months of this fiscal year, down from Rs 2,725 crore in the corresponding period of the previous year. "In Q2FY25, we have achieved collections of Rs 1,033 crore and pre-sales of Rs 1,331 crore mostly from sustenance sales. Our performance continues to reflect robust housing demand across key markets, driven by our strategic focus on customer-centric offerings and operational efficiencies," Ashish Puravankara, Managing Director of Puravankara Ltd, said. In the first half of the fiscal, he said the company witnessed sustained traction across its portfolio and continued to replenish land bank by acquiring over 5.75 million square feet of saleable area in Mumbai, Bengaluru and Goa with a total potentia

Hopes dashed but prudent approach: Realtors on unchanged repo rate

The industry experts believed that a rate cut would have helped the momentum to continue amid the festive quarter

Arvind SmartSpaces to develop Rs 600 cr worth housing project in Bengaluru

Realty firm Arvind SmartSpaces Ltd will jointly develop a housing project in Bengaluru with a revenue potential of Rs 600 crore. In a regulatory filing, the company said it "has signed a new residential apartment project in Bengaluru, with a total estimated saleable area of around 4.2 lakh square feet and a top-line potential of around Rs 600 crore." This project is located on ITPL road, near Whitefield, Bengaluru. The project is undertaken on a joint development basis. This would be the company's 12th overall and eighth high-rise project in Bengaluru. "Brand 'Arvind' continues to resonate strongly with homebuyers and landowners alike, as we look to further deepen our presence in the Bangalore market," Kamal Singal, Managing Director and CEO of Arvind SmartSpaces, said. "With this project addition, our cumulative new business development topline potential for the year stands at Rs 1,010 crore," he added. Built on around 120-year-old legacy of the Lalbhai Group and established in