Page 6 - Realty

Aditya Birla Real Estate's Q2 total income rises 30% to Rs 1,130 crore

The company's net profit for the quarter stood at Rs 2.82 crore against the loss of Rs 32.87 crore it incurred in Q2 FY24

Real estate remains most preferred asset class for investment: Report

According to a survey by FICCI and Anarock, 59% of respondents across 14 cities favoured real estate as the most preferred asset class

FPCE writes to govt seeking realty-specific rules for homebuyers' interest

Homebuyers' association FPCE has written to consumer affairs ministry to frame specific guidelines for the Indian real estate sector to curb unfair trade practices and protect consumers' interest. Forum For People's Collective Efforts (FPCE) President Abhay Upadhyay has written a letter to Consumer Affairs Secretary Nidhi Khare, requesting her to issue "real estate sector specific guidelines under Consumer Protection Act 2019 to curb the malpractices prevalent in the sector and to save the consumers of the sector from being duped and cheated by developers." The association pointed out that the consumer forums constituted under Consumer Protection Act 2019 comprises about 10 per cent of their complaints from the consumers of real estate sector. As per the government statement in the Lok Sabha, more than 50,000 such complaints are pending before consumer forums as on July 31, 2024. In terms of value of such cases, it will be more than 10 per cent since transactions in the real estate

Homebuyers' sentiment bullish on hopes of capital appreciation: Magicbricks

Homebuyers' sentiment remains strong on expectations of rise in capital and rental values of residential properties, according to Magicbricks. Real estate platform Magicbricks on Tuesday released 'Housing Sentiment Index' (HSI). "With expectations of capital appreciation and rising rental yields, the homebuyer sentiment continues to grow strong," Magicbricks said in a statement. Based on a survey of over 2,100 customers, the report indicates that the customer housing sentiment index has increased from 149 to 155 in just six months (April vs September 2024). Investor sentiment was also notably robust in Noida and Greater Noida, both recording a high HSI score of 163, while cities such as Gurugram, Ahmedabad, and Hyderabad followed closely with scores of 160 each. Conversely, markets like Delhi (HSI score 151), Bengaluru, and Mumbai (HSI score 148) exhibited relatively lower sentiment, likely attributable to rising property prices. The survey also underscored growing confidence amo

A real estate hotspot: Everybody wants a 'piece' on Dwarka Expressway

For the coming years, the industry seems optimistic on their bet on the expressway

Truth about India's realty prices: Underperfoming amid lofty projections

Global housing markets are appreciating much better

Realty projects worth Rs 7,200 crore get Uttar Pradesh govt approval

These realty projects will come up in the major towns of Noida, Ghaziabad, Lucknow, Agra, Meerut, Prayagraj, Gorakhpur, Jhansi and Moradabad

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 ...

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 .

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

Puravankara to redevelop housing society in South Mumbai's Breach Candy

The company has expanded its footprint in Lokhandwala, Andheri West, where it previously acquired redevelopment rights for two societies on 3 acres of land in November 2023

India's tier-1 real estate market becomes transparent for the first time

The market emerged to be the top global improver

Interarch Building Products' shares surge nearly 34% in market debut

Shares of construction solutions provider Interarch Building Products Ltd on Monday ended with a premium of nearly 34 per cent against the issue price of Rs 900. The stock made its debut at Rs 1,291.20, surging 43.46 per cent from the issue price on the BSE. During the day, it zoomed 46.22 per cent to Rs 1,316. Shares of the firm ended at Rs 1,196.45, up 32.93 per cent. At the NSE, it listed at Rs 1,299, a jump of 44.33 per cent. The stock ended at Rs 1,203.10, surging 33.67 per cent. The company's market valuation stood at Rs 1,990.94 crore. In traded volume terms, 6.47 lakh shares of the firm were traded at the BSE and 70.50 lakh shares at the NSE during the day. The initial public offering of Interarch Building Products got subscribed a whopping 93.46 times on the last day of subscription on Wednesday. The Rs 600-crore initial share sale had a price range for the offer at Rs 850-900 per share. Proceeds from the fresh issue will be used for capital expenditures, system upgrad

Uttar Pradesh's commercial realty grew 10% in FY24 to Rs 3.29 trn

An official said UP's GSDP rose from about Rs 22.84 trillion in FY23 to Rs 25.48 trillion in FY24, clocking a growth of 11.56 per cent during the period

Shriram Properties' new initiative sends company's shares flying over 15%

BSE analytics reflect that the company's shares have sprinted 22 per cent in the last one week, while they have gained 22.77 per cent in the last one month and 63.36 per cent in the last one year

Keystone Realtors eyes 32% growth in housing sales this year: CMD

Keystone Realtors has set a target of 32 per cent growth in its sale bookings this fiscal to Rs 3,000 crore on strong housing demand and is hopeful of crossing this number, its Chairman and Managing Director Boman Irani said. Keystone Realtors, which sells its properties under Rustomjee brand, is one of the leading real estate developers in the country with a significant presence in Mumbai Metropolitan Region (MMR). In an interview with PTI, Irani -- who is also president of realtors' apex body CREDAI -- noted that the demand in the housing market continues to be strong, encouraging the company to invest more in land acquisition and construction activities. "We have a dry powder of around Rs 3,000 crore to make investments for growth. We raised Rs 800 crore from qualified institutional placement (QIP) plus our internal cash flow," he said. Asked about the sale bookings outlook, Irani said, "We are targeting to achieve Rs 3,000 crore pre-sales this fiscal. We will cross that ...

Developer, investor sentiment in realty sector moderated in Apr-Jun: Report

While the overall sentiment remains optimistic, it has fallen considerably from the all-time high levels in the January-March quarter this year

RBI status quo on interest rates to boost demand for realty sector: CEOs

The real estate industry experts are expecting the move to continue the growth momentum in the sector

Real estate majors DLF, Macrotech among most valued family businesses

Sobha's Ravi PNC Menon and Macrotech's Abhishek Lodha found places in the list of the youngest leaders in the 2024 Barclays Private Clients Hurun India most valuable real estate family businesses

The House of Abhinandan Lodha to invest Rs 1,800 crore, says chairman

Realty firm The House of Abhinandan Lodha -- which is into development of residential plots -- will invest Rs 1,800 crore this fiscal year on purchase of land and construction of projects as part of its expansion plan, a top company official said. Mumbai-based The House of Abhinandan Lodha, which was formed in 2021, has already launched nearly 10 plotted development projects covering 650 acres in Maharashtra, Goa, and Ayodhya in Uttar Pradesh. In an interview with PTI, the company's Chairman Abhinandan Lodha noted that the demand for housing plots has been very strong post-COVID pandemic. "We have launched more than 6,000 plots in the last three years and we plan to launch more than 2,000 plots by end of this calendar year," he said. Asked about investment plan for the current fiscal, Lodha said, "The total capital expenditure outlay for 2024-25 fiscal is around Rs 1,800 crore of which Rs 550 crore will be on construction and the remaining on land buying." He said the company is n