Page 91 - Real Estate

Dilip Kumar's sea-view Pali Hill property sold for a whopping Rs 172 cr

The redeveloped building will feature a 2,000-square-foot museum dedicated to legendary Bollywood actor Dilip Kumar, along with 4- and 5-BHK luxury apartments

DLF sales jump over 3X to Rs 6,404 cr in Q1 on high demand for luxury homes

Realty major DLF's sales bookings jumped over three-fold to Rs 6,404 crore during the first quarter of this fiscal on strong demand for its luxury housing properties. The company had sold properties worth Rs 2,040 crore in the year-ago period. DLF has given guidance to achieve Rs 17,000 crore worth of sales bookings for the entire 2024-25 financial year as against nearly Rs 15,000 crore in the preceding year. According to its latest investor presentation, the company's sales bookings in the April-June quarter were driven by its luxury project 'DLF Privana West' at Sector 76/77, Gurugram that saw sales of Rs 5,600 crore. In its super-luxury housing project 'The Camellias' at DLF 5, Gurugram, the company sold 4 units for Rs 251 crore. On Thursday, DLF reported a 23 per cent increase in its consolidated profit to Rs 645.61 crore in the first quarter of this fiscal. Its net profit stood at Rs 527 crore in the year-ago period. Total income rose to Rs 1,729.82 crore during the April-J

China keeps lending rate unchanged as housing market still struggling

China's central bank kept a key lending rate unchanged on Monday, choosing not to loosen credit as data for May showed signs of persisting weakness in the world's No. 2 economy's manufacturing and real estate sectors. The central bank kept its rate for 1-year medium-term lending facility loans, used as a benchmark for other lending rates, at 2.5%. The decision aligned with expectations: instead of cutting already low interest rates Beijing has focused on channeling spending to areas considered to be high priorities such as high-tech industries. The government reported Monday that factory output fell 5.6% in May from the year before, slowing from 6.7% in April, though analysts noted some impact due to more work days in this year compared with the year before. Property investments fell 10% year-on-year and home sales sank 30.5%, suggesting a raft of measures to try to turn around a real estate slump have yet to take hold. Home prices in major, so-called Tier 1 cities like Beijing and

No significant impact of removal of indexation benefit, say realty players

High-end properties may see some drop in demand, they add

Budget 2024: Proposed LTCG tax changes on property sales explained

Holding period, quantum of gain to decide if new norms are beneficial

LTCG tax changes to benefit most real estate investors: Revenue secy

Revenue Secretary Sanjay Malhotra on Wednesday said the changes in Long-Term Capital Gain Tax (LTCG) announced in the Budget by Finance Minister Nirmala Sitharaman will benefit most of the people investing in the real estate sector. The Budget has lowered the LTCG from 20 per cent to 12.5 per cent but removed the indexation benefits. The indexation benefit allowed taxpayers to compute gains arising out of the sale of capital assets after adjusting inflation. The proposal has raised apprehensions that a person selling his property will have to pay a higher capital gain tax. "This is mostly a simplification exercise. Some people have expressed apprehension on the removal of indexation. I want to allay their concerns that while indexation has been removed at the same time the tax rates have been substantially reduced from 20 pc to 12.5 pc. This will benefit most of the people investing in real estate in the long term as the rate of return is more than 10-11 per cent," Malhotra told PT

Budget pinches homebuyers, earns praise of real estate developers

The Union Budget 2024-25 has left homebuyers disappointed, as it did not address concerns like high interest rates on home loans and the annual increase in stamp duty charges, while real estate developers lauded the Budget. Apartment Owners Associations in Noida and Greater Noida in the national capital region believe revoking indexation benefits in property deals will be a big setback for homebuyers. "This budget has left homebuyers disappointed, with no specific provisions or reliefs offered for them. Despite the high interest rates on home loans and the annual increase in stamp duty charges, the budget did not address these concerns," said Abhishek Kumar, president of Noida Extension Flat Owners Welfare Association (NEFOWA). Noida along with Greater Noida adjoining Delhi in the national capital region has thousands of distressed homebuyers and stuck housing projects. Rajiva Singh, president of Noida Federation of Apartment Owners Association (NOFAA) believed the budget revoking

Budget 2024 took away property indexation: Gainers, losers, tax calculation

Mumbai and the National Capital Region (NCR) are likely to be hit the most by Budget 2024 property indexation benefit loss, said analysts at CLSA in a note

Union Budget 2024: Indexation benefit removal a realty check for investors

LTCG on non-financial assets like property will also be taxed at 12.5 per cent, against the earlier 20% post indexation if held for more than three years

Govt brings listed equity & units of REITs, InvITs at par to calculate LTCG

The government on Tuesday brought units of listed business trusts -- REITs and InvITs -- at par with listed equity shares while calculating long-term capital gain tax, a move that will foster a more agile investment environment. According to the Union Budget document, the government has reduced the holding period for determining long-term capital gains for business trusts from 36 months to 12 months. "Thus units of listed business trust will now be at par with listed equity shares at 12 months instead of earlier 36 months," the document noted. Real estate Investment Trusts (REITs) and infrastructure investment trusts (InvITs) are new concepts in the Indian market but have been a popular choice globally for their lucrative returns and capital appreciation. A REIT is made up of a portfolio of commercial real estate assets, the majority of which are already leased out, and InvITs consist of a portfolio of infrastructure assets like highways. Indian REITs Association, which has been

Budget 2024: What does indexation mean? How does it work in real estate?

Indexation benefits will continue to apply to properties purchased before April 1, 2001, but not to those purchased after that date

Realty indexation benefit gone, tax rate cut in Budget 2024. Stock strategy

Union Budget 2024-25 impact: DLF, Brigade Enterprises, Prestige Estates, Godrej Properties and Sunteck Realty dropped up to 5 per cent afer FM proposed to withdraw indexation benefit on house resale.

Real estate regulators in states/UTs dispose of 125,000 consumer complaints

Real estate regulators in states and Union Territories have so far disposed of nearly 1.25 lakh consumer complaints against developers, according to the Economic Survey 2023-24. The Real Estate (Regulation & Development) Act, 2016, popularly known as RERA, was enacted to bring about much-needed reform in India's real estate sector. The main objective of RERA is to encourage greater transparency, citizen-centricity, accountability, and financial discipline, thus empowering home buyers and boosting the economy. The survey highlighted that all states/ Union Territories (UTs) have notified rules under RERA except Nagaland, which is in the process of notifying the rules. As of July 1, 2024, over 1,30,186 real estate projects and 88,461 real estate agents have been registered under RERA. "RERA provides for the establishment of a fast-track dispute resolution mechanism for the settlement of disputes. As of 01 July 2024, 32 states and UTs have set up the Real Estate Regulatory Authority, .

Realty sales highest since 2013, 4 lakh homes sold in 8 cities: Eco Survey

India's housing boom: Real estate dominates Indian household savings with highest allocation

Land deals slowing down? Not everywhere! Bengaluru, Gurugram still booming

Bengaluru remained the top city for land deals with 9 deals for around 114 acres, all for residential projects.

Oberoi Realty stock rallies 7% on strong Q1FY25 show; profit zooms 82%

The surge in stock price came after the Mumbai-based company's profit rose nearly 82 per cent year-on-year (Y-o-Y) to Rs 584.5 crore in the June quarter of financial year 2025 (Q1FY25).

Land deals drop 57% to 325 acres in Apr-Jun on high prices: Anarock

Land acquisitions remained muted during April-June, and only 25 deals covering 325 acres were closed during this period, mainly due to high prices and general elections, according to Anarock. In contrast, there were 29 land deals closed in the year-ago period, comprising 721 acres. Real estate consultant Anarock pointed out that the general elections and the heated land prices seem to have dented the appetite for land acquisition for developers and other entities in the second quarter of 2024. The number of land deals closed in Q2 (April-June) 2024 came down to 25 transactions for around 325 acres. Prashant Thakur, Regional Director & Head - Research & Advisory, Anarock Group, said Bengaluru topped in the number of land deals. "The city (Bengaluru) saw 9 separate deals for approximately 114 acres closed in Q2 2024," he added. Gurugram saw the closure of as many as 7 deals for over 77.5 acres. Of the total land deals closed in April-June, over 17 have been proposed for ...

Realty firm Shriram Properties elevates Gopalakrishnan J as ED & Group CEO

Realty firm Shriram Properties Ltd has elevated Gopalakrishnan J as executive director and Group Chief Executive Officer (CEO) of the company. He has been elevated from the current position as Executive Director (ED) and Group Chief Financial Officer (CFO) of the Bengaluru-based Shriram Properties. In a regulatory filing on Saturday, Shriram Properties Ltd informed that the Board of Directors at its meeting held on July 20, 2024, approved the appointment of Gopalakrishnan J as Executive Director and Group CEO effective July 20, 2024. The board also appointed K R Ramesh, who was Executive Director - Operations, as Executive Director Strategy & Corporate Development effective July 20, 2024. Gopalakrishnan joined the company in 2018 and has provided significant leadership in the ongoing transformation of the company, apart from his critical role in the IPO process and building a strong growth platform in recent years. He has more than 33 years of experience in the areas of corporate

Realty check: Avoid buying commercial real estate stocks, caution analysts

On the bourses, shares of Prestige Estates, Oberoi Realty, Brigade Enterprises, DLF, Embassy REIT, and Mindspace Business Parks REIT, have surged in the range of 11 to 214 per cent

Houses worth over Rs 4 cr record 27% growth in sales in Delhi-NCR: CBRE

The first half of 2024 witnessed a surge in the luxury housing market in the Delhi-NCR region, driven by affluent buyers, enhanced amenities, and major infrastructure projects, according to CBRE