To know the future, knowing the past is undoubtedly important. In this context, the year 2019 – 2020 has been the year that has ended with the onset of the pandemic and the year after was fully plagued with the onslaught of the lethal effects of the global pandemic
The pandemic has changed the world of experiential living, and prop tech integration has a major role to play in enhancing customer experiences and elevating levels of customer engagement
A total of 39 MoUs were inked between the NAREDCO developers and the government of Jammu & Kashmir, involving an investment of Rs 18,900 crore for residential, commercial, hospitality, infrastructure, and three film and entertainment projects
Investcorp, a global investment manager, specializing in alternative investments, today announced the opening of its 2nd office in India, located in the greater Delhi region. The office will house Investcorp’s Analytics Center of Excellence (ACE) and support the company’s analytical requirements and digital transformation activities globally. The opening of the office and the launch of Investcorp’s India Analytical Center of Excellence (ACE) was held in the presence of Mohammed Alardhi, Executive Chairman of Investcorp and Rishi Kapoor, Co-Chief Executive Officer
India's real estate sector suffered a major setback during the first and the second wave of the Covid-19 pandemic but now it is showing signs of steady recovery
Only 17% of PE investment in the residential segment allocated to affordable housing since 2011. Ministry of Housing and Urban Affairs pegs affordable housing demand at approximately 11.22 million houses by 2022
This trend will continue in 2021 as the festive season is about to kick in which has been traditionally the best time for home purchases across India - Samir Jasuja, MD and Founder of PropEquity
Industry experts feel prospective home buyers may find this time suitable, given the discounts on offer by builders and low interest rates in the economy
Thursday (September 30) was earlier the last date for this rebate on the penalty amount for buyers of the built-up scheme, the authority said. The GNIDA said because of the non-registry, the stamp department of the state is also losing out on revenue
These plots are believed to have been part of previous land allotment schemes but remained unallotted and were not included in subsequent schemes either, the Greater Noida Industrial Development Authority (GNIDA) said
A ‘completion certification’ is a mandatory legal document, which attests that a new building has been completed according to safety norms and regulations of the Buildings Act
The economics of redevelopment projects, a type of an urban real estate renewal method where realty players takeover old buildings and rebuild them, has gone awry in the last few years following implementation of GST in 2017, say industry trackers
With more people willing to pay a premium for open space, prices have risen between Rs 5,000 and Rs 12,000 per sq. ft. in cities such as Mussoorie and Shimla in the last few months.
Real Estate Investment Trusts (REITs) is a relatively new asset class for investment by retail buyers in India. As in anything new, it is not fully understood and therefore can be intimidating. According to the new norms single REIT units can be traded like stocks. Therefore it is important to understand this asset class, if you are to invest in it.
As a part of the Affordable Rental Housing Scheme, as many as 60,000 homes have already been cleared. Besides, 500 rental housing units under the affordable category are now operational in cities like Ahmedabad, Surat, and Chandigarh. Another 7,000 homes under this category are in different stages of the construction process. In this regard, it should be noted that the government has sanctioned 60K homes recently under the affordable housing category. These homes will be constructed by private or public agencies, or certain organizations that are under the ARHC (Affordable Rental Housing Complexes) scheme.
In this post-pandemic world, people want prudent investment choices and holiday homes yield better returns over time than any other commercial or residential property.
Calculating your child’s financial needs based on a future they are likely to pick in the next 10-15 years can be daunting. It could end up being a random guess in most cases. What’s important to understand here is your investments are all that you will have control over for now. The more you choose to invest today, the more flexibility you offer your children to pick a future they desire.
NRIs are allowed to purchase residential or commercial properties in India but they are not allowed to purchase any agricultural land, farmhouse, or plantation property in India.
Mumbai-based Anarock, which is one of the leading housing brokerage firms in the country, had clocked an 18 percent growth in its revenue at around Rs 305 crore during the 2020-21 financial year despite the pandemic.
A strong revival in the country’s economic growth in the current fiscal, historical low interest rates on home loans and lucrative festive offers by developers will be the major drivers of housing demand.
New Delhi NCR, India NewsVoir Launched in 2018, SAYA Gold Avenue attained completion and was put up for possession, making it one of the few residential projects to be ready for timely delivery, amidst the pandemic. Undeterred by the pandemic, SAYA Homes, a prominent developer in Delhi - NCR region, has commenced delivery of its 44 storeyed project named SAYA Gold Avenue in Indirapuram.
These three sectors account for 71% of companies in bankruptcy tribunals
Total number of cases admitted by the NCLT so far has increased 3% to 4,541 in June quarter
New-age digital transformation tools and advanced enterprise technologies like internet of things (IoT), ERP, Robotics process automation (RPA), Analytics for decision making & mobility solutions and data science can facilitate tenant churn, enable commercial lease negotiations, prompt asset valuation and increase visibility and productivity.
An ICICI Securities report expects momentum to be carried forward from October onwards during the festive season and sees developers to post record sales booking numbers in the second half of the financial year.
India’s real estate sector has registered a strong resilience against the pandemic which hit the economy last year. Despite setbacks, the sector realigned very quickly to the new normal with digital interventions and was back in recovery mode soon. The pandemic’s second wave has altered the atmosphere for real estate buyers and investors in the country, and there is now a greater demand for own homes keeping in mind the factors of health, hygiene and safety. The macroeconomic recovery has also shown a significant pick-up inducing a positive trend in the last few months in the real estate sector. The appetite for residential property in the mid-income segment is growing, with people looking to buy homes sooner than they had anticipated given the current scenario with the pandemic. Developers have analysed the trend of a healthy lifestyle and have shifted their interests towards developing projects that fulfil the changing needs of new-age buyers in a post-Covid world. In the context of this change in mood, it is important to grasp the new trends in the real estate sector.
The survey found out that the size of the apartment rank first, followed by developers profile, access to healthcare, access to green open spaces and lower density environment.
NEW DELHI: Flagging how Uttar Pradesh, Maharashtra and Karnataka Reras recently gave suo motu six-nine months extension of deadline for real estate projects, a member of the central advisory council (CAC) for Rera has urged the Union housing ministry to direct states to withdraw such extensions given “in the garb of ” second wave of Covid-19.
The Cabinet directed the Housing and Urban Development Department to start the construction of houses for 32,000 economically weaker section (EWS) on priority.
“The country is going through a challenging time, and non-delivery of the project adds to the buyers' worry. We have entered this tie-up to help these buyers get the home of their dreams,” said Yukti Nagpal, Director, Gulshan Group
According to statistics provided by the government, around 37.57 lakh houses have been sanctioned under the PMAY (Pradhan Mantri Awas Yojana-Urban) scheme in the last two years for people falling within the category of EWS (Economically Weaker Section)
The real estate sector is quite complex and every real estate project undergoes a series of steps before the final finished product is ready for use. Each of these stages in a real estate project requires capital and each stage of investment has its own characteristics. Here are some options for investors to consider to time their real estate investment.
Realtors' body Credai on Tuesday demanded that input tax credit (ITC) under the GST regime should be allowed to developers, saying this could lead to a reduction in housing prices by 10 per cent.
Properties in India sold by NRIs are liable for taxation under the Indian income tax laws. We look at the applicable tax rates and the exemptions available
If one takes the auto option, the money is automatically invested by the pension fund managers in accordance with the age of the investor.
An investor has to choose between active and auto options depending on how he/she wants the money to be invested in asset classes.
When circling down, one must consider their financial profile and their risk appetite. How much risk are you willing to take, the investment horizon and various other important factors including your tax requirements must be considered
Buying the first home is a dream and for cracking the right deal, from deciding the location to doing the paperwork, numerous aspects have to be considered to ensure a hassle-free home purchase. In India, many first-time homebuyers rely on home loans to buy their dream home. As home loans span over 20-30 years, they are counted as a long-term liability that involves investing a significant share of an individual’s income.
Goa is known to offer a local heritage living experience to city dwellers. Some people looking to buy homes here are looking at working permanently from a more scenic location. This is leading to prices soaring in some micro-markets of Goa.
The real estate industry has been one of the slowest adopters of technology, while other industries in the financial world have been embracing it to provide more opportunities and help investors make smarter decisions.
Real estate is making strides in its efforts to catch up to the rest of the financial world, according to a report released today by Jones Lang LaSalle Inc. (NYSE: JLL)
According to a report published by EY, Real estate firms are now realizing they need to shift to the changing technology landscape to stay relevant and gain an edge on their competitiveness.
National Monetisation Pipeline (NMP) unveiled: Finance Minister Nirmala Sitharaman said monetisation will create further value for infrastructure creation in the country and explore innovative ways of private participation without transfer of government ownership.
Rs 15,000 crore expected to be monetised through urban real estate; close to Rs 29,000 crore is estimated from monetising warehouses and around Rs 11,450 crore from stadiums.
In the wake of the collapse of a two-story building in Nand Nagri, which killed one person, the East Delhi Municipal Corporation (EDMC) decided on Saturday to conduct a survey of weak buildings in areas under its jurisdiction
“One of the decisions taken at the meeting was the reduction in transfer charges from 5 per cent to 2.5 per cent for residential land, built-up houses, shops/kiosks; the transfer charges have been fixed at a maximum of one per cent to 2.5 per cent. The decision will give a boost to the resale market in the region,” said Dhiraj Jain, Director, Mahagun Group
Investors with a higher appetite for risk should only venture in this sector given that it is cyclical and the companies do carry some amount of leverage, said an expert
Demand for ultra-luxury properties in neighbourhoods such as Vasant Kunj, Vasant Vihar, Golf Links, Sunder Nagar and Shanti Niketan was high, with 1,991 deals registered in FY21. By contrast, 1,780 transactions were recorded the previous year, data gathered by statistics aggregator Zapkey.com showed
The Indian real estate sector has always remained an investor’s favourite which has shown immense resilience against the pandemic. Continuing its uphill climb against all odds, the sector continues to attract potential buyers
Apart from reducing circle rates and increasing tax benefits for first-home buyers, here are the 5 things the government should further do to help the realty sector recover
Noida is attracting corporates as it boasts of better road and metro connectivity, affordable housing, abundant power, Grade-A offices, competitive rentals and upcoming international airport and logistics hub. But, analysts point out that it has a lot to do to catch up with Gurgaon in terms of large clients
: From a residential standpoint, the report cites that India’s high vacant stock of total residential census houses can be brought within the fold of formal rental housing once this Act is implemented by states and union territories in letter and spirit
The markets and stakeholders who would take cognizance of the factual positions and evolve strategies to make the most of the demographic dividend emerge as the winner
While Mumbai is famous for being home to the Bollywood industry, it’s also a hotbed for real estate investments. This sprawling city has witnessed immense capital growth and infrastructure development in recent times, offering diverse real estate options for buyers on the lookout
Covid will be remembered as a watershed moment in the history of humankind, making an indelible impact on our lives. It’s impact on future of real estate will be felt more around the investment demand rather than the end user demand. Covid will accentuate the gradual shift in real estate investment demand, which has been in the works for some time due to inherent dichotomy of the current structure of real estate investing with two key wealth management trends digitization and diversification
In the webinar by home-grown flex workspace provider, Awfis, on the strategies that needs to be adopted by the CRE market to successfully navigate the second wave of the pandemic, experts said that traditional sources of capital – banks and NBFCs, will be constrained at least for the next 24-36 months
Finance Minister, Nirmala Sitharaman presented the Union Budget 2020-21 on 1st February. Here are the highlights of the budget for the real estate sector
This well-connected residential area enjoys the presence of reputed schools and hospitals, including Cambridge School and Kailash Hospital. Here are other highlights of Omega, Chi, Phi in Greater Noida that make it this week's real estate hot spot
Real estate sector has been hit by the pandemic. Homes haven't been delivered. While the pandemic impact will fade, what can the budget do to fix the regulatory mess in the sector?
In these extraordinary times, real estate stakeholders across sectors have an opportunity to structurally reimagine their strategies to ensure sustained recovery
To promote ease of tax compliances, the government may re-introduce simplified tax return forms for NRIs who have no capital gains or business/professional income in India or having income within specified thresholds
Time flies, it has been three years since the full implementation of Real Estate (Regulation and Development) Act, 2016 and it has been instrumental in regulating the supply of residential inventory. RERA implementation was a significant regulatory step to address the trust deficit in consumers’ minds and instil confidence in wary end-users. The developers were coming to terms with a changed market environment where the big boys of real estate, due to their credibility amongst buyers, eyed a larger market share and entered into joint developments or development management contracts with smaller developers
The COVID crisis hit us at a time when the Indian economy was already slowing down. The GDP growth of 4.7% recorded in Q3 FY20 is the lowest in the last six years. All the pillars of India’s growth ie consumption, investment and exports were slowing down
Are you wondering if home prices will fall in the post-Covid world? There’s something you should know: the real estate industry in India doesn’t want this to happen
Global real estate consultant Knight Frank India chairman and managing director Shishir Baijal in a pre-budget wish demanded A separate annual deduction of Rs 150,000 that will provide the much-needed fillip to opt for house purchase
During a discussion on the budget, Rajesh Gahlot said increasing tax on properties cannot be the only solution to enhance revenue. “There are other ways to increase revenue, so instead of hiking property tax we have decided to bring more people under the tax net of the SDMC."
RERA has infused governance in a hitherto unregulated sector. Along with demonetisation and GST, it has, to a large extent, cleansed the real estate sector of black money
: This year has been an interesting one for India's real estate industry from a legal and regulatory standpoint, with several legislative changes being introduced to boost consumer confidence in the sector. Going forward, it is these changes that would power the recovery of the sector as a whole
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
With Ahmedabad as a case study, the report by Anant University on ‘Paradox of Vacant Houses in India’, said the phenomenon of keeping the house vacant was observed across the board in the country. But the study found this to be more acute in the affordable segment.
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.
While inaugurating the construction of the Agra Metro project via video conferencing, PM Modi said, 'People with wrong intentions brought disrepute to the entire real estate sector, upsetting our middle class'
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.
This has been done in order to build a long-term sustainable business as the company has introduced some operational changes aligned with the current business realities, the sources said.
Swiss-based LafargeHolcim in a statement to Reuters confirmed officials visited the Mumbai offices of ACC and Ambuja Cements and said the companies were fully cooperating with the authorities, but could not comment further as the matter is ongoing.
NGT order came after observing that Prayeja City I and Prayeja City - II has not taken prior Environmental Clearance, the Consent to Establish and the Consent to Operate under the Water (Prevention and Control of Pollution) Act, 1974 and the Air (Prevention and Control of Pollution) Act, 1981.
Sahara said the reason is clear that the SEBI, despite giving four rounds of advertisements in 154 newspapers in last 8 years across the country, has repaid only Rs 107 crore to the investors. In its last advertisement that was published around a year ago.
The company has signed a binding agreement for the acquisition of the balance 14.28 per cent equity interest in ELEL from the Nanda family, Indian Hotels Company Ltd (IHCL) said in a filing to BSE.
Ginger’s 20 in-the-pipeline hotels with around 2000 rooms will come up in markets like Kolkata, Mumbai, Chennai, Goa, Udaipur, Amritsar, Nagpur and Patna. The company is also looking at hotels in locations such as Agra, Chandigarh, and Aurangabad.
Puri said the land & development office (L&DO) is dealing with around 60,000 properties that are commercial, residential, industrial as well as institutional.
As per another transaction, Morgan Stanley Asia (Singapore) Pte-Odi offloaded 75.8 lakh shares of Indiabulls Real Estate at Rs 57.16 per scrip, valuing the deal at Rs 43.32 crore.
Nirmala Sitharaman said the move would help start work on 12 lakh houses as well as complete 18 lakh houses. This would create 78 lakh new jobs as well as demand for steel and cement.
An internal report of the civic body showed that out of 1,357 builders caught for illegal activities, demolition notices were issued in 1,194 cases. However, action was carried out in only 318 cases.
The door-step delivery service has started today on '1076' helpline, aiming that no construction worker will have to stand in long queues at government offices.
Law minister Ravi Shankar Prasad has written to all CMs to set up dedicated special courts under the Specific Relief Act. The responses were under compilation, law secretary Barun Mitra said in his letter to the cabinet secretary.
Some 40,000 apartments across Amrapali’s housing projects remain incomplete due to financial mismanagement. About a quarter of these homebuyers want to sell their yet-to-be-ready apartments but had not been able to do so as there was no clarity on rules.
It was alleged that in 2012-13, Bhasin’s company, Mist Avenue Pvt Ltd, invited the general public through an advertisement to invest in its project, Mist Avenue, situated at Plot No 1, Sec-143B in Noida.
The EPFO has emphasised that the dataset published regarding contributory members and establishments does not match with the official data of the organisation for any of the wage months mentioned.
Read more at:
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Stride Ventures has led this round, participating through debt funding of Rs 20 crore in the company. Existing investors Accel Partners, Sequoia Capital, Evolvence India and JSW Ventures have also participated, infusing another Rs 40 crore in equity.
In the backdrop of general concerns over liquidity for real estate and rental assets, the deal assumes significance as the funding carries an interest rate of 7.35 per cent for tenure of 15 years with a structured repayment schedule.
Promoted by Kedaara Capital and Partners Group, Aavas is primarily engaged in the business of providing housing loan to customers belonging to low and middle-income segment in semi-urban and rural areas.
"In a bid to solve this registration and renewal-related issues, we have launched a portal. From Saturday, the construction laborer's can register for a new application or renewal," he said.
The L&DO has put details of nearly 60,000 properties in these localities on its edharti portal which people can use to verify the ownership and other details.
Revenue from the lighting & fixtures segment was Rs 308.04 crore, a dip of 18% from Rs 374.89 crore it had registered in the corresponding quarter last year.
The researchers from cybersecurity firm Check Point discovered vulnerabilities in the communication protocol used by Philips Hue smart lightbulbs -- a marquee smart home device that relies on the Zigbee protocol.
The deal involves the acquisition of certain real estate projects housed in RMZ Infotech, RMZ Galleria (India), RMZ North Star Projects, RMZ Ecoworld Infrastructure and RMZ Azure Projects.
The CM said that since people regard Vijayadasami as an auspicious day to start new programmes and activities, he will launch the portal the same day (October 25).
There are two main types of LED drivers available – constant current and constant voltage. Now, if your LED lights don’t have inbuilt drivers, then you need to get the driver separately.
WeWork said it will maintain a minority stake and "participating interest." Concurrent with the deal, the division has received $200 million in funding from existing investors.
Sinha said, "Today's launch marks another step of the government towards the establishment of an accountable and transparent governing system where the welfare of common citizen is at the core.".
The survey was conducted online covering over 2,500 prospective homebuyers from Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, Hyderabad, Chennai and Pune.
Last week, 195 retailers and restaurants including Future Group, Aditya Birla Fashion, Arvind Brands, Domino’s Pizza, Adidas, and Levi’s wrote a common letter to mall owners for a “collaborative dialogue” between shopping centres and tenants.
At some airports where they pay minimum guarantee, the lounge operators have asked the operators to reconsider the guarantees due to sluggish business even before the flight operations were shut completely.
Among its directions in the final order, Sebi had asked MIRL and its directors to jointly and severally refund the money collected by way of issue of the debentures.
But these once-dominant shopping behemoths are in survival mode following lengthy pandemic shutdowns that have precipitated retail bankruptcies and stores unable to pay rent.
"Axiomatically the suit is dismissed. The plaintiff (INOX) having indulged in judicial adventurism, is also burdened with costs of Rs 5,00,000, payable to the defendant (PVR) within 90 days hereof," the judge said.
It is the second major retail deal signed just before the pandemic began to spread in the U.S. that has crumbled. Last month, a deal to sell Victoria's Secret to a private equity group fell apart.
Reliance Retail and Reliance Brands Ltd have jointly served termination notices, ending leases of dozens of outlets in nine of the Blackstone-owned Nexus Malls, according to three people familiar with the development.
In a regulatory filing, Housing Development and Infrastructure Ltd (HDIL) informed that the CoC rejected the resignation tendered by Majmudar, and directed him to continue in his present role.
UP-Rera member Balvinder Kumar said a complainant is given two options on the regulatory body’s website — a buyer can either file a case through a conciliator, which is free of cost, or make a direct appeal to get the case heard in the Rera court.
The company has signed a binding agreement for the acquisition of the balance 14.28 percent equity interest in ELEL from the Nanda family, Indian Hotels Company Ltd (IHCL) said in a filing to BSE.
The second half of the FY21 could see more whirr and hum, it said. A volume could retract by a third on-year in FY21, especially since public spending would be diverted towards healthcare and public welfare, it added.
The Ministry of Rural Development has also completed construction of around 72 lakh houses under Indira Awas Yojana totaling construction of 182 lakh houses since 2014.
Rental expenses form a sizeable share of the 12-16% of the revenues for retailers, therefore, in line with expectations, the tenants have been negotiating with the mall operators for a waiver or rebate on the rentals.
Embassy Office Parks REIT is the country's first Real Estate Investment Trust (REIT), which was launched last year by realty firm Embassy group and global investment firm Blackstone to raise nearly Rs 5,000 crore.
As per the guidelines, the private and public entities will also get loans at lower interest rates through the concessional window under the Affordable Housing Fund by housing finance companies and priority sector lending by commercial banks.
The notification issued under section 19 (1) of the Land Acquisition Act on July 11, also paves way for compensation to the people affected by the greenfield project.
A team of the enforcement wing, led by district town planner RS Batth, carried out the demolition drive in the presence of police on Sohna road and Bhondsi.
Only the inhabited portion of the village where people have built residential properties would be covered under the Samitva scheme for preparing a comprehensive database of the residential clusters.
MCG plans to lay sewer and water pipelines and construct water supply boosting stations after the takeover. Officials said none of these villages have organised sewerage.
A bench of Chief Justice D N Patel and Justice Prateek Jalan issued notices to the ministries of Home Affairs, Defence and Civil Aviation, Delhi Cantonment Board (DCB) and Airport Authority of India (AAI) seeking their stand by August 12.
The detailed project report (DPR) of the two corridors, that was sent to the state government earlier, will now be forwarded to the state finance department for approval.
The company, which is launching India's second Real Estate Investment Trust (REIT), had earlier announced raising Rs 1,125 crore from strategic investors.
