Page 7 - Realty

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

Amid high demand, real estate developers ramp up uber-luxury projects

Luxury home sales in India surged by 75 per cent last year

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

FIR filed against IREO Group, Oberoi Realty MDs for fraud in Gurugram

An FIR was registered against nine people, including IREO Group Managing Director Lalit Goyal and Oberoi Realty Limited Chairman and Managing Director Vikas Oberoi, under various sections of cheating, criminal breach of trust and forgery, police said on Sunday. The FIR was filed on the orders of the Chief Judicial Magistrate at the DLF phase 2 police station on Friday following a complaint lodged by Advance India Projects Limited (AIPL), citing allegations of cheating, criminal breach of trust and forgery against the accused, the police said. According to the FIR, IREO and Oberoi -- both realty groups -- are accused of conspiring to defraud allottees who had invested funds since 2013, thus not only deceiving investors but also defrauding the AIPL Group. In its complaint, AIPL claimed that IREO Group embezzled approximately Rs 1,777 crore and sent it out of the country, adding that about Rs 1,376 crore was recovered as advances from the allottees. AIPL alleged that IREO collected Rs

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 ..

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

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

How portrayal of land, property in Hindi cinema reflects changing times

At the heart of these stories lies a universal truth: The pursuit of a place to call one's own, a quest as primal as the human need for shelter itself

A vision for smart, resilient, inclusive cities: Naredco's G Hari Babu

'The introduction of Real Estate (Regulation and Development) Act (Rera) in 2016 marked a major shift, bringing transparency and accountability with mandatory project registration, buyer protection'