Page 6 - Realty

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

Brigade Enterprises likely to stand tall on robust launch pipeline

FY24 saw a strong show in all its key segments - residential real estate, rentals and hospitality

VTP Luxe: Reimagining Opulence, Redefining Pune

.

Realty sector loses Rs 6,480 crore in market value after Union Budget

Analysts feel removal of indexation may dampen investor sentiments, particularly in high-end segments

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

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

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

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 ...

Steady demand, falling supply: What's ahead for mid-segment homes in India?

A recent report by Knight Frank showed that the mid-segment had a strong 32 per cent market share in the total demand in the first six months of 2024

Ajmera Realty & Infra clocks 36% growth in Q1 sales bookings to Rs 306 cr

Ajmera Realty & Infra India Ltd on Monday reported a 36 per cent rise in its sales bookings to Rs 306 crore in the first quarter of this fiscal on better demand. The company had sold properties worth Rs 225 crore in the year-ago period. In a statement, Dhaval Ajmera, Director at Ajmera Realty & Infra India, said the company achieved robust growth of 36 per cent buoyed by the successful launch of its project 'Ajmera Vihara' at Bhandup in Mumbai. "Reflecting on FY24, it has indeed been a stellar year for us and Q1FY25 began with significant progress marching towards our full-year guidance. "Our achievements underscore our commitment to future growth and moving forward to an ambitious 5x growth strategy. Looking ahead, we are optimistic about our substantial pipeline of 7 new projects having estimated GDV (gross development value) of about Rs 4,300 crore," he said. Ajmera said the sector outlook remains positive. Ajmera Realty is one of the leading players in the Mumbai ...

Led by GCCs, commercial realty leasing to touch all-time high in 2024: JLL

Data shared by the consultancy said that during the April-June quarter, all top seven cities in the country recorded gross leasing volumes of at least 1 msf for the first time

K-shaped recovery keeping retail real estate on its toes, say experts

Consumption by a wider section of society needed, they say