Realty firm Macrotech Developers, which has projects in Mumbai and Pune regions, is looking to enter the Bengaluru market to tap huge property demand in the IT city and will invest Rs 3,000 crore equity capital for growth as it aims to increase its annual sales bookings by almost three times to Rs 20,000 crore by 2025-26, a top company official said
The last year and a half have been the dark days of any country now. People are now grateful that the economies are opening up and they are going back to work. One of the worst affected sectors is tourism and hospitality, and the other has to be real estate
Real estate sector is one of the most globally recognized sectors. It comprises of four sub sectors - housing, retail, hospitality, and commercial. The growth of this sector is well complemented by the growth in the corporate environment and the demand for office space as well as urban and semi-urban accommodations. The construction industry ranks third among the 14 major sectors in terms of direct, indirect and induced effects in all sectors of the economy
Earlier, small brokers had a free run, but with regulation and free flow of information to consumers due to the digital media explosion, unorganised family businesses gave way to more organised corporate-style structures.
The second wave of COVID-19 has halted the recovery rate of the real estate sector. It has unprecedentedly disrupted the activities of new project launches and sales. Unfortunately, the pandemic has once again put a brake on the operations of the sector. As per industry experts, the sales have started falling since mid-April and the situation is likely to worsen in case the third wave persists.
It would not be wrong to say the real estate industry is at an inflection point and could potentially see explosive growth. Among all the segments, housing is showing tremendous demand. There is a gradual rise in property prices as well. Many companies are planning to dole out an average of 10-15% salary hikes across verticals to retain their staff.
According to Motilal Oswal, as demand for cement was affected by the foreclosure, average prices remained stable in May. They are up 6% so far in the first quarter sequentially, driven by increases in the east, south and Maharashtra
This is the exclusive margin separating the leaders from managers ¬ the margin of influence and inspiration. Learning from the leaders, the managers are vehemently supporting the inspirational requirements of the people without controlling their moves for achieving the highest results in terms of productivity
Bengaluru also leads the pack of IT-BPM office spaces with about 162 million sq.ft. at the end of 2020, followed by Delhi NCR and Mumbai at 116 and 104 million sq.ft. respectively. In recent years, Hyderabad made rapid growth in IT-BPM job creation, where the annual gross absorption of commercial office space has been around 5 to 6million since 2016
In a big relief for the realty sector, which has been hit hard by the pandemic and the economic slowdown, the BrihanMumbai Municipal Corporation (BMC) has decided to move online the process of transfer of development rights (TDR) generation and utilisation
The real estate sector may be amongst the last to recover from the current COVID-19 pandemic crisis. The adverse impact of lockdown is not just visible on demand across real estate segments, but also on Private Equity (PE) investments
Standing Committee Chairman Rajdutt Gahlot said the move will help to create employment opportunities in the industrial sector and also enhance the productivity of available resources to optimum level.
The company recently entered into a joint development agreement with a Delhi based builder to develop one million square feet in Delhi’s Badarpur, and simultaneously, talks are on with a different developer to build 1.73 million sq ft in Gurgaon.
"We have not made any major changes to the bill that was discussed and passed earlier by this House, other than certain minor things, giving some clarity with clarifications," Revenue Minister R Ashoka said.
A recent visit to the site by TOI showed that construction is under way at three sites in Ansals Aravali Retreat, involving clearing of land and removal of vegetation. Trees have also been bulldozed to widen a pathway.
"This initiative is a step towards the goal of attaining faster and hassle-free clearance for land development and building construction approval in a transparent manner," tweeted Goa Chief Minister Pramod Sawant.
In a first, units under the 2BHK housing scheme of Telangana government will be completed in 40 days flat when compared to 150 days it used to take previously. GHMC on Monday said the tunnel form construction technology — under which a 10-storeyed building can be raised in 40 days — is being adopted now to build 2BHK houses at Rampally village in Keesara mandal.
Officials on the orders of the Real Estate Regulatory Authority-Karnataka had initiated the auction to sell a flat, which is part of a larger project by Golden Gate Properties in Gubbalala near Uttarahalli in south Bengaluru.
The Teranet-National Bank Composite House Price Index, which tracks data collected from public land registries to measure changes for repeat sales of single-family homes, showed prices were up 0.7% in June from May.
Apart from the government-sponsored and SBICAP Ventures-managed last-mile fund for stuck projects, several large institutional investors are also getting active through their own distress or special opportunities funds.