Page 82 - Real Estate

Average home prices in Gurugram up 76% in 2 years to touch Rs 14,650 psf

Based on customer searches, the report stated that 3 BHK units dominate with 66 per cent of demand. Average prices of 3BHK apartments have increased 21.6 per cent on quarter to reach Rs 14600 psf.

As housing prices surge in top cities, there are ways to strike a good deal

Expensive property may force you to make some compromises but make sure you don't sacrifice the essentials

NAREDCO signs MoU with FSAI to improve safety standards in realty projects

Realtors' body NAREDCO has signed an agreement with Fire and Security Association of India (FSAI) to enhance standards related to fire safety in real estate projects. The National Real Estate Development Council (NAREDCO) has signed a Memorandum of Understanding (MoU) with FSAI to collaborate on improving fire safety, life safety, and security standards in India's real estate sector, according to a statement. FSAI is a leading organization with expertise in fire protection, life safety, security, building automation, loss prevention, and risk management. NAREDCO said the partnership aims to foster the exchange of knowledge, expertise, and technical advancements in fire protection, life safety, and security systems for the benefit of real estate stakeholders across the country. G Hari Babu, National President of NAREDCO, said, "The combined efforts of both organizations will enhance building safety, streamline regulations, and promote sustainable practices in India's urban ...

Affordable housing supply in India's top 6 cities slows to a trickle

Costs for such projects unviable, says real estate companies that see better gains in luxury properties

Macrotech Developers posts highest-ever quarterly pre-sales of Rs 4,290 cr

The company expressed its interest in exploring opportunities to scale its digital infrastructure portfolio

Warehousing space demand may dip this year to 45 mn sq ft: Report

Demand for premium warehousing spaces may decline slightly to around 45 million square feet this year across top six cities, according to CREDAI and CRE-Matrix report. The leasing transactions of warehousing space stood at 47.15 million square feet in 2023 calendar year across Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Pune, Hyderabad and Bengaluru. "Leasing of premium warehousing spaces is set to cross 45 million square feet in 2024, with H1 (January-June) 2024 clocking 20.3 million square feet and H2 (July-September) 2024 projected to cross 25 million square feet," realtors body CREDAI and data analytics firm CRE-Matrix said. India's Grade A warehousing stock is projected to surpass 300 million square feet by 2025 - which currently stands at 238.5 million square feet, providing a promising outlook for stakeholders. "The Indian Real Estate market is evolving rapidly, with specialised segments like warehousing complementing the robust growth of the more traditional ...

Macrotech Developers Q2 results: Properties sale hit record Rs 4,290 cr

Realty firm Macrotech Developers on Friday reported a 21 per cent increase in sales bookings to a record Rs 4,290 crore during the July-September period on better housing demand. Mumbai-based Macrotech Developers, which markets its properties under the Lodha brand, had sold properties worth Rs 3,530 crore in the year-ago period. The company has a major presence in Mumbai Metropolitan Region (MMR) and Pune. It has entered into the Bengaluru market as well. In a regulatory filing, Macrotech Developers said, "We achieved our best-ever quarterly pre-sales of Rs 42.9 billion (Rs 4,290 crore) showing growth of 21 per cent year-on-year despite the inauspicious Shradhh' period falling in September this fiscal year (vs October in FY24)." The collections of funds stood at Rs 3,070 crore in the second quarter of this fiscal year, up 11 per cent from the year-ago period. Macrotech Developers said the company has added four new land parcels in Pune and Bengaluru, having Rs 5,500 crore of reven

Gross office space leasing in 2024 may rise 14% in top 9 cities: CBRE

Gross leasing transactions of office space are estimated to rise 14 per cent this calendar year across nine major cities to record 70 million square feet on better demand from global and domestic corporates, according to CBRE. The gross leasing of office space stood at 61.6 million square feet in 2023. CBRE South Asia noted that "office leasing is likely to record a historic high of around 70 million square feet in 2024 across top 9 cities in India as per current estimates." The last highest office leasing was recorded in 2019 at 66.6 million square feet. Anshuman Magazine, Chairman & CEO - India, South-East Asia, Middle East & Africa, CBRE, said, "India's office market leasing is projected to remain strong in 2024, with Q3 (July-September ) of 2024 reflecting sustained absorption. The demand is driven by global and domestic occupiers, who are expected to continue expanding their operations and consolidating their facilities to strengthen their market presence." GCCs (global .

US office market segment shows signs of bottoming after big discount sales

The US office property market has been hard hit since the pandemic by higher interest rates and as many office workers worked from home

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 ...

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