Page 94 - Real Estate

China Evergrande chairman's seized Hong Kong mansion sold for $57 mn

All of Evergrande's properties in Hong Kong have been seized or sold, while the personal assets of Hui are not included in the liquidation process

Ultra-luxury housing in India sees shift to ultra-customised marketing

Prestige Group, a leading real estate developer, is targeting ultra-luxury buyers using the "by appointment" method

Mid-luxury homes will drive demand in FY25: Hiranandani Group Chairman

Sanguine economic performance and positive market dynamics have resulted in upbeat sentiment among industry stakeholders, he says

High property prices to boost debt recovery from realty projects: Report

Recovery of debt from stressed residential realty projects is set to increase in the current financial year due to higher property prices as well as changes in rules, a report said on Monday. The bad loan recovery rate is estimated to touch 16-18 per cent at the end of FY25 from 11 per cent as on March 31, 2024, domestic rating agency Crisil said in a report. "This will be driven by improved viability of stressed projects due to healthy demand and price appreciation seen in residential real estate and greater investor and promoter interest in reviving such projects," the agency said. It added that recent amendments to the Insolvency and Bankruptcy Board of India (IBBI) regulations for real estate projects should also strengthen resolution of stressed real estate assets in the medium term. The agency said it analysed the performance of its portfolio comprising security receipts of Rs 9,000 crore from 70 stressed realty projects with a saleable area of 66 million square feet while ..

Jaypee Infra insolvency: Suraksha to pay 1st tranche to YEIDA before Aug 24

Mumbai-based Suraksha Group, which has recently taken control of debt-ridden realty firm Jaypee Infratech through an insolvency process, will pay the first instalment of around Rs 133 crore to Yamuna Expressway Industrial Development Authority within three months as additional compensation to farmers. On May 24, the National Company Law Appellate Tribunal (NCLAT) upheld Suraksha Realty's bid to acquire Jaypee Infratech Ltd (JIL) while directing it to pay Rs 1,334 crore to Yamuna Expressway Industrial Development Authority (YEIDA) as compensation to the farmers. While upholding the National Company Law Tribunal's (NCLT) decision of March 2023, the NCLAT had said the decision was made to avoid any further delay in the implementation of the resolution plan and also to take care of the interests of all stakeholders, including homebuyers and claim of YEIDA for additional compensation of the farmers. On March 7 last year, the NCLT approved the bid of Suraksha Group to buy JIL. However, ma

Market positive as residential, hospitality sectors on a high: Brigade MD

Shankar highlights the factors behind the company's revenue growth, the best-performing segments, and the status of their project pipeline

Credai, NAREDCO seek repo rate cut in next MPC meet to boost housing demand

Realtors apex bodies CREDAI and NAREDCO have sought a reduction in repo rate in the next monetary policy to bring down interest rates on home loans and further boost demand for residential properties. The Reserve Bank of India (RBI) on Friday kept the repo rate unchanged. Commenting on the decision, realtors apex body CREDAI National President Boman Irani said the country achieved high economic growth in the last fiscal on contributions from all sectors, including real estate. "Coupled with other healthy macro-economic indicators and CPI at an 11-month low at 4.83 per cent recorded in last April, RBI possesses a strong opportunity to provide a sustained, formidable platform to further elevate this holistic economic development across industries," he said. In the next monetary policy, he said the RBI should look toward "cutting the repo rates for the first time since February 2023, and offer lower lending rates that would boost consumer spending even more." Realtors body NAREDCO ..

Proptech firms garner investment of $4.6 bn in the last 14 years: Report

The shared economy and construction technology segments have emerged as leaders in the proptech space, capturing 55 per cent and 23 per cent of private investments in FY24, respectively

Selling time for unsold real estate inventory down by nearly one-third: JLL

The consultancy released the findings based on an analysis of seven cities -- Delhi NCR, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and Kolkata -- over the last eight quarters

Selling time for unsold real estate inventory down by nearly one-third: JLL

The consultancy released the findings based on an analysis of seven cities -- Delhi NCR, Mumbai, Pune, Bengaluru, Chennai, Hyderabad, and Kolkata -- over the last eight quarters

Century Textiles arm forms JV with Barmalt India; share price zooms 13%

Birla Estates Private Ltd, the real estate venture of Aditya Birla Group, has entered into a JV with Barmalt India Pvt Ltd for a luxury residential project in Gurugram

Birla Estates-Barmalt to build 13 acres luxury housing project in Gurugram

Realty firm Birla Estates has partnered with Barmalt India to develop a luxury housing project in Gurugram with an estimated revenue of Rs 5,000 crore. Birla Estate is the real estate venture of the Aditya Birla Group and a 100 per cent wholly-owned subsidiary of Century Textiles and Industries Ltd. In a regulatory filing, Century Textiles and Industries said it has entered into a joint venture with Barmalt India Pvt Ltd for a luxury residential group housing development in Sector 31, Gurugram. The land parcel is spread across 13.27 acres with a development potential of approximately 2.4 million square feet, offering a revenue potential of approximately Rs 5,000 crore, it added. K T Jithendran, MD & CEO of Birla Estates, said, "As we expand our footprint in the Delhi-NCR region, we are pleased to announce the addition of this new project in one of Gurugram's most promising micro market".

Mumbai, Delhi, Bengaluru: Top cities for fractional ownership REITS

The two metros of Mumbai and Delhi NCR has emerged as top hotspots for asset acquisition opportunities under the SM REIT umbrella, reveals latest data

Major 18 listed builders sell properties worth Rs 1.17 trillion in FY24

Eighteen major listed real estate developers sold properties worth Rs 1.17 lakh crore during the last fiscal with Godrej Properties becoming the largest player posting Rs 22,527 crore of sales bookings. Except for a few realty players, all major developers have achieved higher sales bookings in 2023-24 compared to the preceding financial year. This was largely driven by strong demand for residential properties, especially luxury homes, across major cities. Many developers clocked record pre-sales in the 2023-24 fiscal, riding on a surge in consumer demand. According to the data compiled from regulatory filings, eighteen major listed realty firms have reported combined sales bookings of about Rs 1,16,635 crore in the 2023-24 fiscal, up 33 per cent from nearly Rs 88,000 crore in the preceding year. Of these combined sales bookings of nearly Rs 1.17 lakh crore, bulk of pre-sales came from the residential segment. Commenting on the strong performance of listed realtors, Dhruv Agarwal

Commercial real estate has bounced back after Covid-19 pandemic blues

Office leasing has surpassed pre-pandemic levels, driven by the growth of global capability centres (GCCs) and flexible office spaces

Real estate sector is looking to a smart future supported by technologies

The use of technology today comes into play right when a project is being designed, and goes on to assist in its customisation and maintenance

Shared spaces: Demand for co-living spaces up again after Covid blip

With occupancy rates up again, coliving firms are also promoting their centres as hubs for networking with like-minded individuals

Election impact on demand anticipated to be moderate: Shishir Baijal

As global uncertainties gradually abate, the robust Indian economy and favourable real estate fundamentals are anticipated to bolster private equity inflows into the sector

Luxury housing cashes in on a growing affluent class, evolving lifestyles

This surge is being fuelled by millennials with increasing incomes and elevated expectations

In home and office, India's real estate market charting a course for growth

In the residential domain, a resurgence post-pandemic is evident, characterised by robust market demand buoyed by both buyer confidence and favourable economic conditions