Page 99 - Real Estate

Embassy REIT Q4 results: Net operating income up at 13% to Rs 766 cr

Embassy Office Parks REIT on Thursday reported a 13 per cent increase in its net operating income to Rs 765.6 crore and announced distribution of Rs 494.8 crore to unit holders in the fourth quarter of the last fiscal year. Its net operating income stood at Rs 680.2 crore in the year-ago period. According to a regulatory filing, Embassy REIT has posted an 8 per cent annual increase in its net operating income to Rs 2,981.9 crore during the last fiscal year. Its net operating income (NOI) stood at Rs 2,766.3 crore in the preceding year. The Board of Directors of Embassy Office Parks Management Services, which is manager to Embassy REIT, declared a distribution of Rs 495 crore or Rs 5.22 per unit for Q4 FY24. With this, the cumulative distribution for the entire 2023-24 totals Rs 2,022 crore or Rs 21.33 per unit. "FY2024 has been a blockbuster year for Embassy REIT. We leased a record 8.1 million square feet to leading corporates, the majority of which were GCCs, we delivered 2.2 .

Lohia Global to foray into real estate biz as housing demand rises in India

In addition to Moradabad, by 2030, the company will develop residential projects in Lucknow and Delhi NCR with a total investment of Rs 1,000 crore

Important legal documents you need when buying land: A complete checklist

Buying a home in one - or building your own - is frightening because of the possibility of scams or getting involved in legal battles in the clogged up court system

Mumbai realty sees 38% increase in property registration in Q1 2024: Report

Data by Square Yards Data Intelligence revealed that properties priced below Rs 50 lakh accounted for 51% of the transactions

Gurugram leads with 22 land deals in FY24 within NCR:10 biggest ones

The majority of deals (22) occurred in Gurgaon, followed by Noida (5) and Greater Noida (2). Other cities like Delhi and Faridabad saw limited activity with 1 deal each.

Puravankara locked at 5% upper circuit on securing redevelopment project

The surge came after Puravankara announced that it has been selected as the preferred developer for redeveloping a residential housing society in Mumbai's Pali Hill

Growth in housing prices may moderate in FY25 to 5% annually: India Ratings

Housing demand and prices are likely to moderate this fiscal on a high base effect with sales expected to rise 8-10 per cent and rates by around 5 per cent annually, India Ratings and Research (Ind-Ra) said on Tuesday. The rating agency has maintained a neutral outlook for the residential real estate sector for the 2024-25 fiscal. "Absorption and prices are likely to be supported by affordability and stability of interest rates. However, given the high base of FY24, the growth rates are likely to taper down," Ind-Ra said in a statement. The residential real estate market registered a strong performance during the first nine months of the 2023-24 fiscal where the sales growth exceeded 25 per cent year-on-year (Y-o-Y) for the top eight real estate clusters, despite price increases and sticky interest rates. "With most regions witnessing a surge in prices, Ind-Ra expects the pre-sales growth to moderate to 8 to 10 per cent yoy in FY25. Inventory levels have also risen over FY24 in the

Experion Developers to invest Rs 1,500 cr to build new projects in Noida

Realty firm Experion Developers will invest about Rs 1,500 crore to develop a luxury housing project in Noida as part of its expansion plans amid sharp rise in demand for residential properties. Gurugram-based Experion Developers has registered its new project 'Experion Elements' with real estate regulatory authority, RERA, for launch. The company, a wholly owned subsidiary of Experion Holdings Pte Ltd, Singapore, will develop around 320 housing units in this 4.7-acre project at Noida in Uttar Pradesh. In the first phase, around 160 units are being launched for sale. Experion Developers CEO Nagaraju Routhu said the company is entering Noida, which is an important real estate market in Delhi-NCR. With the receipt of the RERA registration for this project, he said the company is launching the first phase of this project comprising 160 units. The company had bought this land from the state government through auction process to develop this housing project. The total developable are

Quess Corp Ajit Isaac seals record real estate deal at Rs 67.5 cr

The property is located in the southern suburb of Koramangala in Bengaluru, popularly known as billionaire street. Flipkart co-founder Sachin Bansal is among its residents

Retail real estate in growth mode as consumption, incomes rise: Study

India's real estate sector is set to reach $1.5 trillion by 2034, accounting for 10.5 per cent of the economy, says the report

India to have 1.5 mn new senior living facilities in 10 years: Report

Population creates 'significant room for growth' for real estate developers, says CBRE

Hidden billions in Tokyo real estate market lure activist hedge funds

In Japan, there's a huge gap -22 trn yen ($143 bn) by one estimate - between how firms value their real estate assets on their books, versus what those properties would fetch if sold in current market

China's Q1 GDP grows 5.3% amid continued crisis in property sector

China's economy grew at 5.3 per cent in the first quarter, making a stronger-than-expected start to the year even as the downturn of its property market continued while the domestic demand remained subdued. The GDP grew 5.3 per cent year on year to 29.63 trillion yuan (about USD 4.17 trillion) in the first three months of 2024, data from the National Bureau of Statistics (NBS) showed on Tuesday. The pace accelerated from 5.2 per cent overall GDP growth for 2023, appearing on course to meet the target set by the government at around five per cent. On a quarterly basis, the economy expanded by 1.6 per cent in the first three months of this year, according to the NBS. "China's high-quality development has made new achievements in the first quarter. The national economy has sustained recovery momentum and got off to a good start," Sheng Laiyun, Deputy Head of the NBS, said at a press conference. Sheng mentioned positive factors during this period, such as rising production demand, sta

US single-family home construction plunges 5.7%; building permits drop

The report from the Commerce Department on Tuesday also showed permits for future construction of single-family houses fell to a five-month low

PE deal value in Indian real estate down 30% from 2019-20: Anarock

Anarock report also noted that while the number of deals in FY24 increased to 49 from 48 in FY20, the aggregate deal value has decreased due to a significantly lower average deal size

India's real estate investment plummets 55% in Q1 2024, shows data

Geographically, Bengaluru emerged as the leader in attracting institutional investments, with a total of $299 million, followed by the National Capital Region (NCR)

Pvt equity investment in realty dips 16% in FY23-24 to $3.67 bn: Anarock

Private equity funding in the real estate sector fell 16 per cent last fiscal to USD 3.67 billion on lower interest from foreign investors, according to Anarock. In its report, Capital FLUX, real estate consultant Anarock pointed out that the private equity (PE) deals in Indian real estate have declined to USD 3,674 million in 2023-24 from USD 4,358 million in the previous year. The PE inflow in real estate stood at USD 5,138 million in 2019-20, USD 6,377 million in 2020-21, USD 4,236 million in 2021-22 financial year. "The decline in PE investments in Indian real estate has been due to lower activity by foreign investors, due to global macro-economic factors and geopolitical instability," said Shobhit Agarwal, MD & CEO of Anarock Capital. The share of foreign capital in total investments declined to 65 per cent in FY24, against 76 per cent in the previous year. As per the report, PE investments by domestic investors have increased to 29 per cent of the total capital inflows into

Making India a major product nation, employment boost top list of vows

The plan is to expand electronics manufacturing three times to become a major player in the global value chain

Real estate Q4 preview signals strong foundations despite presales dip

Anarock highlighted that listed cos like Prestige Estates, DLF, Godrej Properties, Sobha, Oberoi Realty have been on a land-buying spree since pandemic amid significant demand for their properties

Share of affordable homes, priced up to Rs 45L, shrinks to 22% in Jan-Mar

Share of affordable homes -- priced up to Rs 45 lakh each -- in total housing sales more than halved to 22 per cent during January-March across top eight cities amid strong demand for luxury flats, according to PropTiger. Share of affordable homes in total housing sales stood at 48 per cent in the January-March period of 2023 calendar year. Housing brokerage firm PropTiger.com data showed that housing sales grew by 41 per cent to 1,20,640 units during January-March 2024 across top eight cities from 85,840 units in the corresponding period of the previous year. In the total sales of 1,20,640 units during January-March, the share of homes, priced less than Rs 25 lakh each, was 5 per cent. In the same period last year, the share of this low-cost housing category in total sales was 15 per cent. The share of homes, priced Rs 25-45 lakh each, was 17 per cent during January-March 2024 as against 23 per cent share in the corresponding period of the previous year. "There has been a remark