Times have been tumultuous since the last year due to the onset of the ongoing Covid – 19 pandemic . Countries around the world went into a lockdown, economic health of nations deteriorated/, and stock markets plummeted. However, despite the depressing market sentiment, the real estate market in India has recorded solid growth
The implementation of RERA has ushered transparency in the real estate sector. It has resorted and over the past few years strengthened the confidence of home buyers in the sector
"Most of the states have more projects registered than the number of agents, and though some states have more agents than projects, Delhi's ratio is the highest in the country," an official said
The commercial real estate market has had a rollercoaster of a year as far as 2020 (and even 2021 to an extent) is concerned. As 2021 is nearing an end, let’s discuss the commercial real estate trends that the coming year 2022 holds for investors and CRE enthusiasts! Read on for commercial real estate insights for 2022!
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
Bengaluru has moved down one spot up against the previous quarter in the index, to rank 42, as the quarter registered a 1.1% YOY price fall in the prime markets. Prices remained stable in Q3 2021.Mumbai remains in the 40th position in Q3 2021, holding the same rank in the previous quarter, as prices fell marginally by 0.1% YOY. In case of Mumbai too, prices are higher 0.2% QoQ in Q3 2021
Housing sales have increased by 12 per cent to 1,38,051 units during January-September period of the current calendar year from 1,23,725 units in the corresponding period of 2020 as per the recent report 'Real Insight residential Q3 2021 by PropTiger.com’, one of the leading online housing brokerage firms in the country
The growth trajectory was derailed in the second quarter of 2021 as the second wave of the pandemic hit an unprepared India. Nevertheless, residential sales were far more resilient during the second wave when compared to the first wave
The investments from the Non-Resident Indians (NRIs) have surged in the FY 2021 to $13.3 billion from the earlier estimate of $13.1 billion according to a report published by 360 Realtors. The same report states that the investment volume has climbed upwards by 6.4% compared to the previous financial year despite the pandemic and the buyers’ sentiments plummeting downwards
Other factors for the rebound is banks lowering their rate of interest for housing loans, increased information technology recruitments and improved salaries in several other sectors
The muted growth in transactions is likely due to delays in the deal process influenced by travel restrictions. However, some funds with long term horizons have upped their risk appetite by investing in opportunistic asset portfolios. Listed Real Estate Investment Trusts (REITs) continued to raise low-cost debt and use the proceeds to acquire assets at attractive valuations
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 real estate sector is divided into four sub-sectors -- housing, retail, hospitality and commercial. It is the second-highest employment generator, after agrarian.
Strong fundamentals like increased affordability, transparency and alignment in demand and supply will keep the demand for residential real estate investment upbeat over the long term
The Karnataka Legislative Assembly has passed an amendment to the Stamp Act, 1957, slashing the stamp duty. The 2% reduction is applicable only on first-time registration, primary sales in other words.
After being under lockdown for a year, the importance of a home is clear. Gated communities and villas are doing well, and those who can’t buy a home are buying plots. India’s organized real estate market is metro-centric. But smaller towns are suddenly in vogue.
According to a recent report by Ficci and real estate services firm CBRE, cities including Kochi, Ahmedabad, Jaipur, Chandigarh, Indore and Coimbatore will see a rise in flex office stock
Selling your house and moving on is one of the most important events in your life. To ensure you get a good price, the first step is to know your property’s worth and the factors that will affect it positively as well as negatively. All of us want only the best when it comes to owning land or home, and your potential buyers, depending on who you target, will have multiple factors in mind. It can get overwhelming, but don’t worry.
Aspiring home buyers should start today to improve debt-to-income ratio, increase savings, shop around for mortgages, and more must-dos, according to real estate experts.
While job magnets like Mumbai or Bengaluru, may be the preferred cities for an average salaried-class individual looking to buy a house, for a large share of expat Indians who wish to invest in real estate in the country, it is the hometown that ranks above other investment destinations
Sustainability in the real estate context is not only limited to energy conservation but also includes the use of resources, impact on the surrounding environment and living conditions for inhabitants.
India ranks only second after the US in terms of the number of green technology projects and built-up area
The pandemic affected almost every industry and business function, resulting in short-term pivots and a shift in priorities for many. For others, it validated their offerings. Conversations with industry leaders reveal that organisations that coped better to the fast-changing external environment brought about by the COVID-19 pandemic were those that leveraged technology to shape solutions for the new normal.
Tech-enabled solutions have changed the landscape and developers with a proven track record are stepping ahead to deliver state-of-the-art products to discerning customers. The digital adoption has also helped developers remain constantly in touch with their customers.
The report also indicates that the investment preferences of investors vary with age. Young investors have a high risk-high return appetite and are ready to geographically diversify their property investments.
The new tools that have come into vogue over the past year are also constantly evolving. Drone site visits, for instance, are being offered in real-time to improve the quality of a virtual tour.
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.
To the uninitiated, these statistics are key markers that hint at a strong, optimistic, and growth-driven future for the Indian real estate sector. Let’s take a closer look at how they intersect
Under the Real Estate Act, the central and state governments, are required to notify their own rules under the Act, six months, on the basis of the model rules framed under the central Act
Real Estate Investment in 2021 has many interesting prospects. The property prices which were unchanged in the major cities have started to show some positive shifts. And the rental market is also expected to come out from a stagnant phase. so, let’s understand whether 2021 is a good time for Real Estate Investment in India. And which are the 10 Best Cities In India For Real Estate Investment in 2021
Since last year an increasing number of real estate dealings are taking place remotely, online. In the current circumstances, consumers prefer digital and remote human engagement over in-person interactions—a sentiment that has progressively deepened even after the end of the lockdown
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
Affordable Housing for all was first carved as an objective in the National Urban Housing and Habitat Policy (NUHHP), 2007 of India. It rose to prominence in the aftermath of the Global Financial Crisis (GFC) of 2008 when muted real estate demand and the economic slowdown prompted Indian real estate developers to focus on affordable housing. However, the biggest boost came when the Government of India launched the Pradhan Mantri Awas Yojana (PMAY) – Urban in June 2015
According to a recent report, the real estate companies in India are quickly adopting AI technology for the development of applications that comprise machine vision for easy analysis and surveying of buildings and structures
Technology is taking a centre stage in all business processes associated with residential real estate property and rental management. It is also ensuring owners, tenants, and service providers leverage it efficiently to communicate, deliver services, and transact
The spike in supply numbers could be attributed to the increase in home-buying interest in the aftermath of the coronavirus pandemic and also the fact that new launches were muted over the prior three quarters
Under the revised terms, Simon will pay $2.65 billion for the 80% stake in the Taubman Realty Group (TRG), cutting its offer price to $43 per share in cash from $52.50 originally announced in February.
GIC will invest in the PML subsidiaries through a mix of primary infusion and secondary purchase of equity shares
PML’s subsidiaries include Offbeat Developers Pvt Ltd, Graceworks Realty and Leisure Pvt Ltd and Vamona Developers Pvt Ltd
Spread across approximately 18 acres, this project will offer 2.4 million square feet of saleable area comprising primarily of residential apartments of various configurations
Prestige is also said to be in talks with US private equity giant Blackstone to sell its rental income assets in a deal worth $1.7 bn, making it one of the largest real estate portfolio buyouts in the country.
In 1985, BDA passed a notification to acquire survey number 75 in Nagawara for forming the HBR II Stage layout, and the related acquisition was done in 1988.
The emergence of the Work-from-Home model given the lockdowns and safety of employees has impacted the demand for office spaces as only a fraction of employees are coming to offices.
A GMC official pointed out that the lack of inter-departmental coordination between the public works department, Guwahati Metropolitan Development Authority (GMDA), and the civic body as a primary reason behind the problem
The company, part of the Larsen & Toubro group, occupies a total of 500,000 sq ft in Hardy Tower and Neville Tower in TRIL Infopark in Ramanujan IT City, and had signed a long-term lease during 2014-15.
Under the new tourism policy, which is set to come before the state cabinet on Tuesday, all subsidies for fresh projects will be routed to fresh locations where the sector has been unable to reach its potential.
Even though the developer’s liquidity position has improved significantly over the last six months, the company continues to face sizable debt maturities of around $800 million in both India and London over the next 18 months.
According to the research, 14 new malls spanning 5.9 mn. sq. ft. area are likely to be complete by 2021-end, with Mumbai witnessing maximum new supply followed by Bengaluru.
Labour department officials said relief had been provided by the Board in fees for renewal and fresh applications till November 30, 2020 in light of the ongoing Covid-19 pandemic.
In the last set of results under Chris Grigg, British Land on Wednesday said its loss after tax widened to 730 million pounds ($970.10 million) for the six months ended Sept. 30 from 404 million pounds.
The state government has reduced the property registration fee for flats costing less than Rs 20 lakh from 5 per cent to 3 per cent. The BS Yediyurappa cabinet, which met on Thursday, took the decision to drive demand in the affordable housing sector.
This is one more step towards implementing the ambitious Urban Property Ownership Records (UPOR) project, which initially failed in five cities of the state.
To start with, the Bengaluru-headquartered IT major has launched the Tenant Acquisition Management solution, which can be integrated as a cloud extension to SAP 'Customer Experience' and SAP S/4HANA software as well.
The LED works on very simple phenomena where voltage is applied to a semiconductor material to make electrons run loose from the material – in return, light energy is emitted in the form of particles known as photons.
As per Chander Mohan Gupta, Mayor, Jammu Municipal Corporation, the rest of the task of installation of LED street lights along the limits of Jammu Municipal Corporation will be finished in the next couple of weeks.
India is one of the fastest growing real estate markets globally and the residential segment is a major contributor, accounting for 80% of the overall market.
The top court also clarified that the present provisions serve a specific policy objective to ensure the right of the NRIs to occupy their property in the UT of Chandigarh and the state of Punjab after “returning” to their country.
The development gains significance as it comes amid soaring numbers of house allottees defaulting on payments and thereby causing revenue loss to the housing board and development authorities.
“The centre will monitor everything including the timing of switching on and off of the lights, as per guidelines defined by the National Lighting Code,” the official added.
The amount used to vary from one area to the other, depending on the size of the building and guidance value. Now, the BBMP has decided to increase the fee for sanctioning building plans.
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 company, whose handbags have won it a place among the big names of the fashion world, is just one of a raft of major U.S. retailers seeking to lower rent bills to make sure they have enough cash to weather the COVID-19 pandemic.
On July 21, the government notified Bangalore Development Authority (allotment of the unauthorised site with buildings) Rules, 2020, reiterating its decision to regularise illegal constructions on BDA properties.
The Bruhat Bangalore Hotels Association has, in a letter to the landlords of hotels and restaurants, proposed “a complete waiver of rentals” and common-area maintenance fee for up to June or till “such time business lockdown ends, whichever is later”.
Mall operators are set for a rough few months as lockdown measures to contain the spread of the coronavirus pushed many retail tenants to the brink of collapse.
The company, whose handbags have won it a place among the big names of the fashion world, is just one of a raft of major U.S. retailers seeking to lower rent bills to make sure they have enough cash to weather the COVID-19 pandemic.
Oyo will stop managing properties of its prominent brand Oyo Townhouse, meaning the owners will now have to pay the staff and other utilities, according to the new contracts that were rolled out earlier this month.
We foresee the sector reviving by August 2020, with business significantly picking up during the festival season, namely the Dussera / Diwali period. People have been confined to their homes for a long time now, Suresh Singaravelu said.
The office rental collections were 98 percent in April and May, and 95 percent in June, it said in an operational update for Q1 FY21. There were rental increases of 14 percent on 1.8 million square feet across 22 office leases.
The funding will be used by the firm to invest in real estate verticals such as warehousing, residential and commercial spaces and also develop tech-solutions.
Already behind schedule, two Namma Metro corridors are likely to miss their deadlines yet again. This time, the delay is being attributed to the lockdown-induced exodus of migrant workers from Bengaluru.
