Page 79 - Real Estate

Housing sales rise 5% across top 8 cities in July-Sept: Knight Frank

Housing sales rose 5 per cent annually during July-September to 87,108 units in eight major cities as demand stayed strong for premium homes, according to Knight Frank India. Real estate consultant Knight Frank India on Thursday released its report 'India Real Estate' for the third quarter of 2024 calendar year through a webinar, showing a modest increase in housing sales in contrast to data provided by Anarock and PropEquity which reported drop in total sales during July-September across major cities. "Momentum in the residential market has trended up well in 2024 with Q3, 2024 recording the highest quarterly sales this year at 87,108 units," the report said. Addressing a virtual press conference, Knight Frank India CMD Shishir Baijal said, the growth in housing sales is driven by demand for premium housing costing above Rs 1 crore each. "There are concern in affordbale housing segment," Baijal said, adding that sales in this category have declined due to availability and ...

Institutional investments in real estate rise 45% in Jul-Sep: Colliers

Institutional investments in real estate grew 45 per cent to nearly USD 1.15 billion in July-September with investors looking to encash the strong demand for premium homes and offices, according to Colliers. Consultant Colliers India data showed that the institutional investments in real estate during July-September stood at USD 1,148.7 million as against USD 793.4 million in the year-ago period. Among different assets class in the overall real estate market, the consultant noted that office segment attracted USD 616.3 million during the third quarter of this calendar year, a more than seven-fold jump from USD 79.1 million in the year-ago period. The residential segment, which has seen a significant surge in demand post COVID pandemic, saw a 40 per cent growth in investments to USD 384.8 million from USD 274.6 million. Industrial & warehousing segment witnessed a fall of 72 per cent in fund inflow to USD 95.2 million from USD 340.3 million. Investments in mixed use projects almost

First 3 quarters of 2024 witness office space leasing of 53.43 msf: Report

Gross leasing for the year is estimated to be about 70 msf

Mumbai realty registrations top 1 lakh in 2024; fastest pace in a decade

Properties priced at Rs 2 crore and above made up 23 per cent of registrations in September 2024, up from 18 per cent in September 2023

PE investments in residential realty cross $1bn in first 9 months of 2024

Most of these investments were directed towards developmental assets, as institutional investors continue to partner with reputed developers in marquee residential projects.

Realty sector gets institutional investment wirth $1.1 bn in Q3: Report

The sector witnessed 45 per cent growth in investments on a yearly basis

Mumbai city registers 12% increase in property registrations in Jan-Sep

Registration of properties in the Mumbai municipal region rose 12 per cent year-on-year to 1,05,608 units in January-September 2024 on better demand, according to Knight Frank. Property registrations in Mumbai city (under BMC jurisdiction) stood at 94,309 units during the year-ago period. "In September 2024, Mumbai surpassed 1,00,000 property registrations, achieving this milestone faster than any other time in the past decade. In 2023, this mark was achieved in October," real estate consultant Knight Frank India said in a statement. This sustained momentum in property transactions stems from the rising economic prosperity and growing preference for home ownership among Mumbai's residents, it added. In September 2024, Mumbai recorded 9,111 property registrations against 10,694 units in the same month last year. Knight Frank has compiled the data on the registration of properties from the Department of Registrations and Stamps, Maharashtra government. The data includes sales in bot

Birla Estates sells residential real estate worth Rs 600 cr in Bengaluru

Realty firm Birla Estates has sold properties worth about Rs 600 crore in its new housing project in Bengaluru. Birla Estates, a wholly owned subsidiary of Aditya Birla Real Estate Ltd (formerly Century Textiles and Industries Ltd) said in a regulatory filing, "Birla Trimaya Phase II The Park, has sold almost 95 per cent of its inventory within 24 hours of its launch achieving an approximate booking value of about Rs 600 crore." In the first phase of this project, the company had sold properties worth about Rs 500 crore. "Overall, the cumulative booking value achieved till date is about Rs 1,100 crore and the project is anticipated to generate a revenue potential of around Rs 3,000 crore across the entire 52 acre development," it added. The project is located at Shettigere Road, Devanahalli, Bengaluru North. The company is headquartered in Mumbai and currently has regional offices in NCR, Bengaluru and Pune. It has a well-established commercial portfolio with 2 grade-A commercial

Ashiana Housing bets on senior housing facilities to drive profit

Improving life expectancy is expected to drive the share of senior citizens in India's 1.43 billion population to 13 per cent by 2030 from 11 per cent currently, according to a Colliers report

Nifty Realty slips over 2% after housing sales decline 11% in Q3CY24

Housing sales during Q3CY24 slipped 11 per cent in India, with Mumbai Metropolitan Region (MMR) emerging as the top-performing market, despite a 13 per cent quarterly decline

Max Estates sells Rs 4,100 cr worth properties within 1 month in Gurugram

Realty firm Max Estates Ltd has sold residential properties worth Rs 4,100 crore in the last one month at its new project in Gurugram. Max Estates launched its first residential project in Gurugram named 'Estate 360' on August 27. "Within 30 days of the launch, Estate 360 has garnered a pre-sales booking value of around Rs 4,100 crore surpassing the guidance of around 4,000 crore provided by the company for FY'25," Max Estates said in a statement. With this successful launch, Max Estates has revised the guidance for the total Gross Development Value potential of this project to Rs 4,800 crore in FY25. The project is located at Sector 36A, Dwarka Expressway, Gurugram. The project will also have flats for seniors to be managed by Antara Senior Living with a dedicated healthcare centre open to all residents of the community. Max Estates is the real estate arm of the Max Group.

Max Estate nets Rs 4,100 crore in pre-sales from maiden Gurugram project

Launched on August 27 this year, Estate 360 is located on Dwarka Expressway in Sector 36A

Max Estate nets Rs 4,100 crore in pre-sales from maiden Gurugram project

Launched on August 27 this year, Estate 360 is located on Dwarka Expressway in Sector 36A

After a 2-year bull run, home sales are down 11%, property prices up by 23%

1.07+ lakh units sold across the top 7 cities in Q3 2024, against 1.20+ lakh units back in Q3 2023

Best of BS Opinion: Telecom players must move on, mine over matter and more

Here is the best of Business Standard's opinion pieces for today

Resist real estate mania: Lessons from the Chinese property meltdown

The stance of financial policy must not be to prevent lending against the field of real estate. It must be to support the financing that induces ample supply, which will keep real estate prices down

L&T eyes up to Rs 40,000 crore in pre-sales from real estate business

Plans land acquisition, seeks to add 25-30 million SQFT per year to portfolio

Office space absorption increases 31% in September quarter: Colliers

Bengaluru, Hyderabad led the pack, driving over half of the quarterly space uptake in Q3 2024

Mt K Kapital raises over Rs 500 cr to invest in realty projects in Mumbai

Alternative investment fund Mt K Kapital on Wednesday said it has raised over Rs 500 crore to deploy in real estate projects in the Mumbai Metropolitan Region (MMR). In a statement, Mt K Kapital said it has raised Rs 500 crore for its maiden fund (Mt. K Resi Development Fund Category II SEBI registered Alternative Investment Fund) from investors like SBI, ICICI Bank, Famy Care and other HNIs. Over Rs 300 crore has already been committed towards five projects in the Mumbai region by Keystone Realtors (Rustomjee Group). The fund is now exercising its green shoe option and is targeting to do a final close shortly. Favourable macroeconomic conditions are likely to strengthen the real estate market and potentially drive expected IRRs (internal rate of returns) beyond 25 per cent, the company said. Mt K Kapital's core strategy targets quick turnaround residential projects with low equity investments and gives investors a share of project profits from redevelopment assets across Mumbai.

Flexible office space operators got $820 mn PE funding since 2017: Report

Flexible office space operators have received USD 820 million worth private equity funding since 2017 driven by rising demand from corporates, according to Knight Frank. In its report released on Wednesday, real estate consultant Knight Frank India said the Private Equity (PE) investments in India's flexible office space sector have fluctuated significantly. "From 2017 to 2018, investments grew steadily from USD 25 million to USD 49 million, rising sharply to USD 113 million in 2019, driven by investors like CLSA Capital and Peak XV Partners." However, investments fell to USD 11 million in 2020 and USD 6 million in 2021 due to Covid-19, it added. "A resurgence occurred in 2022, reaching USD 595 million, supported by deals from Hillhouse Capital and Actis, but dropped sharply to USD 13 million. In 2024, one deal secured USD 8 million," the consultant said. The report noted that flex-space operators have taken on lease an estimated 52.9 million sq ft (msf) from 2017 to the first hal