As a first-time homebuyer, you may qualify for some sweet perks like tax savings, reduced interest rates, and even special discounts from developers. So, keep an eye out as you might have a chance to save a handsome amount
Don’t put all your eggs in one basket” – that’s what all the investment gurus around the world say. From Fixed Income to Shares, it’s always better to diversify your assets to create a more balanced portfolio. Real Estate is another such asset that has the potential to fetch long-term returns, if done right. Are you an NRI planning to invest back in India? If yes, there is no better time than right now. The residential real estate market in India has set a record of 68% YoY sales, making it one of India’s fastest-growing sectors. Now, if you are wondering where to invest, then Mumbai makes the best case as some of the premium and upcoming locations in the city of dreams have witnessed a staggering appreciation rate of 30% from 2025 to 2022.
Tata Housing will launch 10 million square feet of residential projects over the next 2-3 years with an estimated revenue of Rs 16,000 crore to encase strong consumer demand, a top company official said. In an interview with PTI, Tata Realty and Infrastructure Ltd MD & CEO Sanjay Dutt sounded very bullish about the growth potential in India's housing market and said the company would be launching several projects to tap this rise in demand.
The Mumbai-based project marks the beginning of ‘our affordable portfolio’, targeting the sub- 1 crore segment, scheduled for launch in December 2023, the real estate major said.
Housing unit sales in India's seven major cities, including Mumbai, Delhi-NCR, Bengaluru, Pune, Hyderabad, Chennai, and Kolkata, witnessed an extraordinary surge of 36% in the third quarter of 2023, as per a report by real estate consultancy group Anarock. This surge amounted to a total of 1,20,280 housing units sold, a significant increase from the 88,230 units sold in the same period the previous year.
Notorious for being the most expensive city in India, in terms of real estate to start with, authorities are making matters worse for those buying real estate in Mumbai by charging hefty premiums and development charges.
Mumbai: Over 10 slum redevelopment projects that have been stalled for 10-15 years will be completed by the Slum Rehabilitation Authority. This project has been taken over in a joint venture with BMC and other planning authorities.
In a move aimed at making the real estate sector more responsible towards homebuyers, MahaRERA will grade every project based on technical, legal, financial and general project overviews which builders will have to submit mandatorily through the online system every six months.
Industry experts explain how global and domestic events have contributed to a jump in the prices of high-end properties, thus making it the most-appreciated housing segment in the last five years
Navigating the taxation landscape for Non-Resident Indians (NRIs) can be quite a maze due to its complexity. Especially when it concerns capital gains on investments made in India, the waters can get even murkier. This comprehensive article delves into the intricate web of capital gains tax for NRIs in India and Persons of Indian Origin (PIOs), shedding light on the often perplexing subject of long-term capital gains tax in India.
The latest Consumer Sentiment Survey by Anarock Group revealed a fascinating insight: 68 per cent of the Non-Residential Indians (NRIs) (respondents) believe that real estate is one of the best avenues for investment. Notably, a whopping 72 per cent of them showed interest in investing in a property in Mumbai.
For Non-Resident Indians (NRIs), Indian real estate has recently become a compelling investment opportunity. The market offers attractive returns and long-term stability due to a booming economy, supportive government policies and a vibrant and growing polity. Let’s look at the few reasons, highlights, opportunities, and benefits for NRI investors.
As more individuals seek opulent living experiences, the luxury housing sector is thriving, offering unparalleled opportunities for investors, developers, and homeowners alike.
Mumbai, 9th August 2023: The Indian real estate sector has always been at the front of change, adapting to modern living and urbanization demands. A new era has dawned upon us in recent years - the era of smart buildings. Rapid technological advancements have revolutionized the approach to real estate development. presenting unprecedented opportunities to enhance sustainability, comfort, and efficiency for occupants and investors alike.
The fusion of real estate and technology, often referred to as ‘RealTech’, is reshaping the traditional landscape of property development, transactions, and management.
In Apr-Jun 2023, Mumbai’s house rental demand (searches) and availability (listings) spiked by 14.9% and 7.7% respectively. However, the average rental rate observed a dip of 0.1% over the last quarter.
Of the total registered properties in August 2023, residential units constituted 80 per cent, while the remaining 20 per cent was non-residential assets
The Indian real estate sector is poised for significant transformation in the coming years, driven by a multitude of trends shaping the future of the industry. Rising urbanization and the growth of India's middle class are fueling demand for new residential and commercial developments. The increased adoption of technology and digital platforms is revolutionizing the way properties are bought and sold.
Why is the Mumbai real estate market one of India’s most vibrant and dynamic? It has numerous factors pushing its development over the years. With the current economic recovery and increasing demand for residential and commercial properties, trends in Mumbai real estate are estimated to continue their growth trajectory in 2023.
The MahaRERA (Maharashtra Real Estate Regulatory Authority) has introduced a new requirement for realty developers to establish dedicated grievance redressal cells to address homebuyers' concerns. This move comes as a response to the prevalent issue of post-purchase problems faced by buyers, who often lack a streamlined mechanism for resolving project-related issues.
Mumbai, the bustling metropolis of India, has witnessed a remarkable resurgence in its real estate sector, culminating in its highest half-yearly revenue in a decade. This remarkable achievement can be attributed to a confluence of factors invigorating the real estate landscape and transforming the city's skyline.
State Housing Minister Atul Save revealed that a fresh housing policy is in the works, with an estimated completion date of around November. The primary focus of this upcoming policy will be on providing affordable and sustainable accommodation. To ensure the policy is in tune with the needs of the people, the minister's department has been actively soliciting input from various stakeholders.
The real estate landscape in Maharashtra is witnessing a surge in the number of projects seeking deregistration, reaching 170. Developers are opting for this drastic measure due to a range of factors, including zero bookings, financial challenges, feasibility concerns, and updated notifications from planning authorities. This article delves into the reasons behind this trend and sheds light on the implications of deregistration.
The Indian real estate industry is expected to grow to a $650 billion business by 2025. This also suggests that the real estate investment India sector's GDP contribution will more than quadruple, growing from 7% to 13%. The Indian government's goal of providing houses for everyone by 2022 is also to assist this development. Despite hurdles such as legal changes and liquidity limits, most NRIs continue to engage in Mumbai real estate.
The Indian real estate segment is witnessing a boom, with the top seven property markets registering an all-time residential sales record in the April-June 2023 quarter. Real estate consultant Anarock, stated in a report, that over 1.15 lakh homes were sold in the April-June 2023 quarter, which exceeded the January-March 2023 quarter by nearly one per cent. The Jan-March quarter saw sales of 1,13,770 housing units across India.
Empowering the youth in the real estate sector holds immense promise for both the individuals and the industry as a whole. By providing them with the necessary skills and knowledge, we can unlock a plethora of benefits. Firstly, it offers the youth a viable career option with abundant opportunities for growth and advancement.
As an investment, real estate in India holds great potential. For an NRI planning to invest in real estate in the country, what are the prospects? What do they need to know before investing in real estate back home? This article sheds light on all the important aspects of investing in real estate in the country.
According to a joint report released on Monday by India Sotheby’s International Realty and CRE Matrix, the sales of luxury homes priced at Rs 10 crore and above in Mumbai witnessed a substantial increase of nearly 50 percent during the period of January to June 2023, as compared to the corresponding period in the previous year.
Mumbai: Real estate industry stakeholders including developers, financiers and institutional investors continue to be optimistic about the business environment over the next six months backed by the Indian economy's resilience despite a recessionary environment globally. showed Knight Frank-Naredco Real Estate Sentiment index for April June 2023.
New Delhi (India), July 7: The real estate industry has experienced remarkable growth and development in recent years, with experts predicting a promising future for the sector. According to industry reports, the real estate sector has shown significant resilience and adaptability, overcoming challenges posed by the global pandemic. The implementation of innovative technologies, changing consumer preferences, and government initiatives aimed at boosting the economy have collectively contributed to the sector's upward trajectory.
The Indian real estate sector is one of the fastest-growing industries in the country and is expected to reach a value of $1 trillion by 2030. India’s top real estate companies are driving this growth through their innovative projects and commitment to quality. Check below the ten best real estate companies in India.
July 11, 2023: The residential property market in India experienced an average year-on-year price appreciation of 6% during the April-June period of this year. The country’s leading online real estate Brokerage Company. The increase in housing prices can be attributed to strong housing demand.
The Mumbai real estate market has been one of India's most vibrant and dynamic, with numerous factors driving its growth over the years. With the ongoing economic recovery and rising demand for residential and commercial properties, trends in Mumbai real estate are expected to continue their growth trajectory in 2023.
Within the dynamic realm of the luxury real estate market, a formidable and consequential force has emerged — the Indian millennial cohort. Armed with ambition, evolving aspirations, and a taste for the extraordinary, these enterprising individuals are driving the demand for luxury real estate sector. With their discerning preferences and a demand for innovative, luxurious living spaces, young Indian millennials have emerged as catalysts behind a remarkable surge, infusing the market with a fresh blend of style and sophistication. As per a recent Anarock-CII report, millennials lead the list of those who believe that real estate is the ‘best asset’ to invest in.
Infrastructure development and the real estate sector share a symbiotic relationship in India. The growth of infrastructure, including transportation networks, highways, airports, and metro systems, has a profound impact on the demand, value, and development of real estate in various regions. This article aims to explore the intricate interplay between infrastructure development and the real estate sector in India, highlighting successful examples of infrastructure-led real estate developments and their impact on urbanization and economic growth.
The real estate market is a complex and dynamic sector that is influenced by various factors Understanding these factors is crucial for investors, developers, and homeowners to make informed decisions. In this article, we will conduct a comprehensive analysis of the key factors that affect the real estate market
The Maharashtra Real Estate Regulatory Authority (MahaRERA) had recently taken action against 67 construction projects after it was found that they had fabricated documents.
In India, different laws apply to real estate in various states. The Real Estate (Regulation and Development) Act of ad 2016 (RERA), the Transfer of Property Act of 1882, and the Registration Act of 1908 are crucial pieces of legislation impacting the nation’s real estate market.
This action has been taken in the backdrop of the Kalyan Dombivali Municipal Corporation last week registering a case of cheating against 27 property developers
Investing a considerable amount of your savings in what would perhaps be your most prized asset, your house, can leave you with many doubts. Right from financing the purchase to selecting the builder, it encompasses numerous aspects. With Gudi Padva around the corner, booking a house may just be on your mind. Find below a five-step guide that addresses common queries, provides unique pointers and takes you through the process of home buying.
For nearly two years, the Indian real estate market has shown fantastic endurance during the pandemic. Even after COVID, the real estate market continued to perform well and is expected to expand further this year. Please explain how 2023 will be the best year for real estate investments in India.
When investing in real estate, it is typical to purchase properties with the intention of earning income and maybe making money through expansion over time. To generate cash flow, provide wealth-building opportunities, and assure long-term capital growth, it’s critical to leverage your initial investment. By putting your money into real estate, which can generate a reliable source of cash flow, you can earn recurring income through rental payments. Additionally, if the value of the property increases over time, you might be able to sell it for a profit, thereby increasing your overall wealth. However, market changes, difficulties with managing rental properties, and probable economic downturns are some of the risks connected with real estate investing. As a result, it’s crucial to conduct in-depth research, consider the risks and potential rewards, and make informed investment decisions. It could be beneficial to get advice from professionals like real estate agents, financial consultants, or attorneys to guide you through the investment process and help you make wise decisions.
Millennials have been one of the prime driving forces for the real estate industry in India over the last few years. Particularly after the pandemic, the real estate sector managed to make a strong comeback especially due to the keen interest of the millennials. In case you belong to this category of investors, it would be wise to remember some essential tips.
The allure of India’s real estate market has caught the attention of Non-Resident Indians (NRIs) who are increasingly looking to invest in properties back home. In recent years, NRI investments in Indian real estate have witnessed a significant surge, with the numbers doubling and signaling a strong vote of confidence in the country’s property market. In this article, we will delve into the factors driving this trend and explore the benefits and considerations for NRIs investing in Indian real estate.
According to the data available from the state’s Office of Registrations and Stamps (IGR), Mumbai city witnessed registration of 10,319 units in the month of June 2023. The registration has helped the state exchequer collect over Rs 850 crore in June 2023 through stamp duty charges, pushing the half yearly collection to over Rs 5,600 crore. This is the highest-ever revenue collected by the state government through property-related stamp duty in the first half of any year. In June 2022, the registration had touched 9,919 deals with stamp duty collection of Rs 729 crore.
Homebuyers today are looking for digital and tailor-made services to meet their requirements. The home financing industry is identifying them and continuously developing personalised services, thereby keeping customer-centricity at the core of their functions.
In the Indian real estate market, customer expectations play a pivotal role in shaping the industry's dynamics. Meeting and surpassing customer expectations is vital for real estate developers and professionals to build trust, establish a strong brand presence, and drive business growth. This article aims to provide a detailed overview of customer expectations in the Indian real estate market, including key factors influencing expectations and strategies to meet and exceed them.
Unlike many other sectors, the real estate industry was very late to adopt customer-centric business models. Many of the resources and efforts were concentrated upon the build and sell process. As the demand was so high as compared to supply, customers were less concerned about their buying experience. They used to focus more on affordability, clean papers and amenities.
As the competition increased in the past decade, with more foreign players investing their wealth into the industry, things started to change. Big players focused on both qualities of construction and customer experience. Now the dynamics have changed and even small and medium players have started adopting the strategies to compete with the big wolves.
In an era of rapid technological advancements, ‘smart homes’ have become a tangible reality. With the increasing integration of Internet of Things (IoT) devices and intelligent automation systems, smart home technology has emerged as a pivotal factor in revolutionizing the real estate industry. It may seem counterintuitive to invest in the current market backdrop, riffed with unprecedented levels of inflation and interest rate regimes. However, there are several economically viable reasons to deploy smart home technology in the current environment.
Recent years have seen a rapid evolution in real estate technology, and the adoption of cutting-edge technologies in this venerable sector promises to transform how business is done there. This industry is constantly expanding and must change to accommodate new technologies as they become available. This is true, for instance, when building, selling, or renting a home. When searching for their ideal home, people will always look for the newest technologies. the one in which they will feel most at ease, secure, and satisfied. The real estate sector must adapt and make use of the newest technologies in order to meet the customers’ rising expectations.
The cost of borrowing for developers could also increase, impacting their profit margins, they said, while hoping that the move would control inflation thus bringing down the cost of construction raw materials like steel and cement
The real estate sector plays a crucial role in the economic growth of a country, and its regulation under the Goods and Services Tax (GST) framework has brought about significant changes and challenges. In this article, we will delve into the key issues faced by the real estate sector under GST, backed by examples and relevant case laws
Developers have three ways to differentiate themselves and add value:
1. Personalization of products through micro-segmentation of the customer base
2. Data-driven expansion of services
3. Exploration of innovative technologies
To stand out in today’s competitive real estate market, it’s crucial to differentiate yourself from others. Determining your points of differentiation means defining what you offer that others in your market don’t, can’t, or won’t. This article covers seven categories of differentiation that you can leverage to make your mark in the real estate industry—and get more business than your competitors
Certain multi-decade attributes shape how the market behaves. Below we cover four of the major problem areas and trends, and emerging themes that build around the same:
Housing sales in India during January-June 2023 touched 1,56,640 units, according to a report by real estate consultant Knight Frank India. It said the housing prices also increased by 2-10 per cent year-on-year.
The annual trends suggest a continued preference for larger homes, with Q1 2023 witnessing a five per cent increase from the previous year, from approximately 1,170 sqft in Q1 2022 to approximately 1,225 sqft in Q1 2023.
At constant prices, the Net National Income (NNI) in FY 22-23 stood at Rs 2.3 crores vs Rs 2 crores in FY 21-22; the 17 percent increase in the NNI suggests living became harder for the average person. However, at current prices, per capita income rose by 5.9 percent to Rs 1.15 lakh in FY 22-23 vs Rs 1.09 lakh in 2021-2022. Although, one can expect a steeper rise in housing prices by at least eight percent, this should not impact demand since buyers prefer buying a home than renting one
Thanks to the government policies that have helped the economy grow, India today is one of the fastest-growing economies in the world. The government embarked upon its journey to bring about structural reforms and introduced tax reforms, GST implementation and made investor-friendly policies. These policies are now bearing fruit and the economy is in the fast lane of development and is likely to grow even faster in the time to come
The department of co-operation and the ministry of marketing and textiles of the government of Maharashtra has issued a Government Resolution on Wednesday i.e., 31st May 2023 (‘GR’). The said GR has been issued in order to provide deemed conveyance within a period of one month to societies that wish to go under self-redevelopment. This GR has come within a short period of Dy CM Devendra Fadnavis (who is also the housing minister of the state), making the announcement. The said GR has been issued as a direction to all the competent authorities, including CIDCO and MCGM. It provides that after the co-operative housing society has passed the resolution in its general body meeting for self-redevelopment and submitting a proposal for deemed conveyance before the competent authority, it will be binding on the competent authority to take a decision within a period of one month from the date of submission of such proposal. Thereafter, the competent authority will be bound to issue deemed conveyance to self-development projects within 30 days.
India is a land of eclectic real estate that has always been catering to the needs and wants of several prevailing segments of buyers, owners, developers, and investors. In case you and your family are looking to change your house in the near future, the million-dollar question for you would be whether you should buy or rent in the new year of 2022
The Indian real estate market, which came to a standstill in 2020 because of the first wave of the pandemic and lock downs, has shown indomitable resilience and crafted its way forward in 2021
The housing sector in India quickly adopted to digitalization and innovation and witnessed a demand shift with buyers looking for best-in-class amenities
The registration of homes in full 2021 was the highest in a decade."These strong numbers reflect the confident mood of homebuyers," says Amit Goyal, CEO of India Sotheby's International Realty
Hyderabad accounted for 31 per cent of new launches between January-September 2021, followed by Mumbai (18 per cent), Pune (17 per cent), Bengaluru (16 per cent) and Delhi NCR (10 per cent), showed data from JLL
Registration of residential properties in Mumbai municipal region stood at 1,441 units during the first week of November on strong demand during Diwali festival, according to Knight Frank India. The registration data is for properties bought in both primary and secondary (re-sale) market
Arunachal Pradesh Land Records granted land rights for the citizen of the state and after that only the state government has also moved towards fast digitalisation of its land record. Under the Arunachal Pradesh (Land Settlement and Records) Act of 2000, the state people did not have land titles
Indeed, the Indian real estate sector has been transformed significantly over the last decade. This transformation has been accelerated further by the central government’s reformative steps to bring ‘Acche Din’ to the realty sector
Experts from the Indian housing fraternity discussed how proptech is revolutionising the real estate industry and throwing up more opportunities for all stakeholders
The performance in October, with normal stamp duty rates, has also surpassed the registration numbers seen during the year-ago period, when a total of 7,928 deals were registered during a period of stamp duty rebates
As per the data available from the Government's Department of Registration and Stamps, the month of September 2021 saw 7,799 properties being registered in Mumbai, up 15% from the previous month of August 2021 which saw sales of 6784 units and 39% from a year ago where September 2020 saw sales of 5597 units in spite of the stamp duty cut announced by the Maharashtra Government during that period
Thirty million families who did not have a pukka roof above their heads have got a chance to become millionaires only through one scheme, "it is a big feat", Modi said
The Union Cabinet, in June 2021, approved The Model Tenancy Act, 2021 for circulation to all states and UTs for adoption by way of enacting new legislation or amending the existing rentals laws. The Model Tenancy Act, 2021 aims to create an effective regulatory ecosystem in India to govern landlord-tenant relationships
Nagpur: Realty sector has reportedly regained momentum as the city is moving to normalcy post the second wave of Covid-19 pandemic. Implementation of new unified development control and promotion regulations (UDCPR) has also helped.
Mumbai: There's real money to be made in real estate these days.
Brick-and-mortar is slowly emerging from the shadows of virtual sheen, as cuts in stamp duty and financing rates by top lenders such as HDFC, Kotak Mahindra and State Bank of India fuel a rally in property stocks.
Moving past the second wave of the pandemic, the commercial real estate sector is on the path of gradual recovery. Prior to COVID-19, the real estate industry was at its prime with commercial and residential activities in full swing. However, with the imposition of an abrupt lockdown in 2020, the real estate sector faced a slowdown in activities; and despite these hurdles, the industry has managed to overcome the challenges.
The office in UAE will cater to the NRI and High-Net-Worth Individuals (HNWI) with project offerings spread across India, the property consultant said. The company has set an annual revenue target of Rs 1,000 crore from NRI sales in projects spread across Mumbai, Pune and Bengaluru.
The pandemic has brought uncountable hardships and havoc, the housing market has recovered better than most other segments due to low mortgage rates and a shift from urban to suburban lifestyles. After the first lockdown, people realized the benefits of owning a home; therefore the second wave of COVID-19 had little impact on the industry. By supporting construction workers in being vaccinated as soon as possible, it boosted construction conversation. The vaccination campaign is likely to be expedited even more, lowering the risk factor. Vaccines' broader reach ensured better management and increased construction activity, which benefited realtors.
With work from home trending to be the new norm, residential real estate remains an appealing option from an investment perspective. As the sector gears up, digital expansions in real estate have already entered into a new phase, and it is an affirmative sign that the Indian real estate sector is now a globally recognized industry. It is condensing tech and innovation to enhance business operations and change the industry standard to transform the market. However, the growth of India’s escalating real estate sector was slightly flawed briefly by the global pandemic, but the challenge emphatically led the way and fast-paced the shift.
In Mumbai Metropolitan Region (MMR) alone, consultants expect 2 million sq. ft of launches in the coming festive months with 25-30 big launches planned.
The option of virtual site visits was initially reserved for NRI customers but now is the new normal for the entire customer base. VR technology such as Oculus Rift devices allowed customers to experience the township, key highlights, and amenities on offer.
With more than 1.42 billion inhabitants – an increase of a billion in less than 60 years – India will overtake China to become the most populous country on Earth in less than two years. Projections by the World Bank predict the number will grow to 1.64 billion by 2050.
As the pandemic instigated major lifestyle changes that forced people to stay at home for a long time, it acutely changed the way the spaces within the house were utilized.
For starters, any transfer of property to non-resident Indians (NRIs) and persons of Indian origin (PIOs) must comply with the Foreign Exchange Management Act (FEMA). The person bequeathing the property should have also acquired it in compliance with FEMA regulations or any other foreign exchange law in force at the time of acquisition of the property
Value of owning a home gains momentum in India
The value of owning a home is underpinned during the Covid-19 crisis and it gained momentum on grounds of safety and stability it offered.
The resurgence of demand for homes in Q3 and Q4 of FY 2021-22 was the only silver lining in an otherwise bleak year for the real estate sector. After the uncertainty witnessed between March and September 2020, residential sales demonstrated commendable recovery by recording huge sale volumes across price points in Q3 and Q4 of FY 2020-21. Measures such as stamp duty reduction, low interest on home loans and pent up demand helped pave the way for a short-lived but timely recovery.
Higher demand in Mumbai for larger homes, According to a recent Knight Frank report, the Mumbai region witnessed property registrations jump to a 10-year high for July 2021.
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.
Mumbai, Maharashtra, India Business Wire India Indias one-of-its-kind phygital offices, maximizing work potential, chiefly in an age of technological advancement The first in its line futuristic commercial landmark in Worli, catering to Start-ups and MSMEs A unique offering by Parinee Group in the post-pandemic world Parinee Group, one of the forerunners in the luxury real estate and commercial segment, for the first time ever in India presents Parinee Brillions Phygital office spaces designed to bridge the gap between the physical and digital worlds interactively.
While property prices have grown at a CAGR of 1-6% across the high-end segment and around 2–7% across the mid-segment since 2010, the per capita GDP grew at a CAGR of 4.0% between 2010 and 2020. Pune led sales activity with an approximately 26% share, followed by Mumbai (19%). It was closely followed by Hyderabad and Delhi-NCR with 18% and 17% shares, respectively.
The devastating impact of the second wave of COVID-19 in India will stagnate price growth by crushing demand and offsetting the benefits given to builders by the government
Experts in the country’s real estate sector are rubbing their hands with glee as the once-suffering residential property market in India is coming back to life in style and taking real estate stocks up with them.
Thorat said, “The revenue ministry has emphasised on e-registration of properties. The digital registration process will enable sale and purchase of housing projects.
Mumbai: The Bombay high court has issued notice to Vasai Virar Municipal Corporation (VVMC) on a petition alleging that the corporation wants to acquire part of their building for constructing a tunnel for the Mumbai-Gujarat Bullet Train.
It is set to launch project in the national capital being developed in joint venture with Singapore sovereign wealth fund GIC. After receiving good customer response for independent floors in Gurugram, DLF said it will launch more such products in the market for sale
Both are happening. Between January and April, Bengaluru leased about 3 million sq ft, out of which share of our company is 750,000 sq ft even rent collection is 98-99%, so we are pretty stable
Low-interest rates, conducive government policies, flexible payment plans, easy investment opportunities and use of technologies have played a vital role in driving the growth in real estate
Mumbai will continue to remain the economic nerve centre of India despite the near-term disruption. The outlook remains bright, supported by proactive government policies, business dynamism and the general resilience of the city’s residents
The regulator has formed a committee to consider recommendations on two key issues – model agreements for commercial and residential apartments and plots, and drafts of allotment letters
The second wave of Covid-19 and the rollback of the stamp duty cut in Maharashtra impacted the housing sales in April, showed a report by Knight Frank India
Panvel is situated in the district of Raigarh at the entrance of the Konkan Division and has a history of the Mughal regime for some three hundred years. Since it is close to Mumbai, this is a very famous spot. Once a major "Rice Market" near Mumbai was known to Panvel
Home loans business, a relatively safer segment of banks' lending, is expected to bounce back after falling to an 11-year low in India as the government gives incentives for people to own their own houses, builders drop prices amid a glut and pent-up demand comes to the fore
The year 2020 has led to unforeseen changes in various sectors of the economy, and real estate has not been an exception. It remained exposed to multiple challenges, which altered its demand-supply dynamics. However, the sentiment is gradually improving, and realtors are looking forward to 2021 with high hopes
Ajmera Realty and Infra India Ltd. (BSE: 513349 & NSE: AJMERA) a leading real estate company with PAN India and International presence announced its Q4 FY 21 & FY 21 reporting strong growth numbers
It is not only pent-up demand that will push growth but the country is going through a structural transformation in housing demand. This is because of a combination of first-time homebuyers, and customers moving up the property ladder to shift to larger homes or acquiring a second home in another location, that is at play
The regulator is looking to streamline the process of hearing and disposal of the complaints referred to MahaRERA Conciliation and Disputes Resolution Forum, for which the procedural guidelines should be prescribed by the MahaRERA for hearing of complaints referred by MahaRERA
The real estate sector is one of the bellwethers of the Indian economy. It is also the highest employment generating sector in the country besides agriculture and contributes 7 percent to the country’s GDP
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
With improved buyer sentiment, we see a positive impact on the fence sitters who will now come out and invest, further increasing the demand for more dynamic layouts considering the new normal
A city of mangroves and flamingos; a seaside metropolis steeped in commerce; a powerhouse of arts and culture: Mumbai’s eclectic appeal draws people from across the world. Among them are many NRIs (non-resident Indians) who aspire to own real estate in Mumbai. And if you’re one of them, there’s good news—Snapping up your dream house in Maximum City just got a lot easier
Several functions in industries such as manufacturing, healthcare, aviation, hospitality etc. cannot be carried out from home. For the next one or two quarters, office space demand will remain muted
: The real estate industry in India has been fighting debilitating battles on multiple fronts for several years now. The sales are nowhere near the heydays of 2011-13 and the reforms that the Government has implemented since 2014 have made it impossible to carry out business the way it was done earlier. The biggest blow to the industry was the NBFC crisis in 2018
As some deadlocked projects are picked up by stressed asset managers, the sector can expect higher asset deliveries and a higher degree of expertise in the sector. This will bring new energy to sectors that currently have an average inventory overhang of 47 months in eight major housing markets, according to a recent October-December quarterly report on PropTiger.com
The Maharashtra cabinet on Wednesday approved a proposal offering 50 per cent waiver in premium to developers on real estate projects till December 31, 2021
The US-based Oaktree Capital in its bid claimed that post resolution, DHFL's NCDs would be assigned an AAA rating if their resolution plan is accepted, they said.
The developer, Siddhi Vinayak Enterprise, had marketed a project Windward Business Park in Vadodara and received bookings for the same without registering the project with the Gujarat Real Estate Regulatory Authority.
The AAR bench, though, added the amount will be subject to GST at the time of actual supply of service—when maintenance services or repairs of common areas and facilities are carried out, in future, by utilising these deposits.
BMC has said shop owners can only return to operate their shops once the fire NOC is re-issued and they are convinced about the structural stability of the mall after assessing audit reports.
The office space bought by Matondkar is on the sixth floor of the building with total area of 96.61 square metres (1,039.901 square feet). According to those close to the deal, she paid Rs 36,000 per square feet.
The RBI kept the repo rate unchanged in its October policy review, but announced some measures that are likely to encourage homebuyers and give a boost to lending and real estate.
In 2021, the southern cities such as Bengaluru and Hyderabad are placed comfortably to lead the path to recovery; emerging asset classes, such as student housing, co-living and senior housing are expected to pick up and flexible workspaces may make a strong comeback.
The coronavirus (COVID-19) pandemic dented new launches, leading to an unprecedented "significantly high" gap between the supply and sales, according to ANAROCK.
Cooperatives sector experts said as per a model bylaw of 2014, even if the general body decides on using it by defining its purpose, there is no need for the society to seek the deputy registrar or coop department's nod.
"At a time when the Worli and N M Joshi Marg BDD chawl redevelopment project is moving ahead it would have been unfortunate for this important project in central Mumbai to be stalled. This is good news," he said.
It directed the builder to pay interest of 9% pa on the Rs 8.4 crore already paid by Rajesh and Surali Joshi who had booked six flats in Wintergreen project in Borivli (east).
Real experts say it may take 12-18 months for the market to bounce back. The first segment to see an uptick will likely be the rental market after offices reopen and people return from their hometowns.
FlyBlade India recently launched helicopter services between Mumbai and YOOVillas Helipad. YOOVillas is India’s first and only YOO-branded villa enclave.
The pandemic has worsened the slowdown in India’s housing sector. However, home sales picked up in Q2, on the back of stagnant prices, lower interest rates and pent-up demand, even as they remained lower than 2019 sale levels. Mint explores the state of India’s real estate.
With a determined focus on timely delivery of real estate projects, Mr Ajay Chaudhary, CMD, Ace Group, has steered his firm to newer heights of glory while fulfilling the dreams and aspirations of the seekers of both affordable and luxury housing.
It made this statement before a bench of Justice Shahrukh Kathawalla and Justice Riyaz Chagla at the hearing of an application for interim reliefs filed by four shop owners who referred to the October 22 fire that broke out in a mobile accessories shop on the second floor and spread to other floors.
Developers are keen to reduce home inventory levels, which are at historically high levels, to increase cash flows during the pandemic, according to brokers and real estate consultants
The COVID-19 crisis has come as a sudden blow to the real estate sector in India. In addition to the halt in construction activities in the first three months of the outbreak of novel Coronavirus, there has also been a significant drop in the number of new residential launches across major metro cities since March 2020. In Apr-Jun 2020, hardly 1,400 housing units were added across top eight metro cities.
Byculla police registered the FIR against six directors of D B Realty—Shahid Balwa, Nasir Rafique, Sunita Goenka, Maryam Khan, Vinod Goenka and Jagat Killawala—and Tribeca director Sanket Borkar.
Last year a consortium led by Haldiram Snacks and two property developers, namely Pioneer Facor IT Infradevelopers and Sanar Property had expressed interest in bidding for the hill city. It is unclear whether they have submitted final bids.
The subsidiary is proposing to raise Rs 150 crore through non-convertible debentures (NCDs), which will also be backed by the Puravankara Group. At the end of financial year 2019-20 (April-March) Jaganmata had Rs 35.1 crore of debt outstanding, which was held entirely by the parent company.
Of the two plots, the company will be selling 6.4 acre at its project Arihant Akarshan in Chokha locality of the city, while over half an acre will be from the project Arihant Adita on Gangana Road, the company said in a regulatory filing.
The three hotels have been identified by the agency as the Fab Hotels group. "The attached three hotels are owned by Libra Realtors Pvt Ltd, Deewan Realtors Pvt Ltd, Rakesh Kumar Wadhawan, Romy Mehra, Libra Hotels Pvt Ltd and its directors," the agency said in a statement.
The company has inked the deal with Xander Investment Management, the owner of the commercial office building Pinehurst at Bengaluru’s Golf Links Business Park.
The company’s transaction value in real estate business rose to Rs 1,537.9 crore. The property transactions grew 5% on-year during the quarter as against industry drop of 50%.
Total income for the September quarter Rs 214.9 crore, down 48% from a year ago. However, the company’s income rose 55.1% sequentially from April-June quarter.
NBCC has awarded the project to Girdhari Lal Constructions and Altis Holding Corporation joint venture. A ‘bhoomi pujan’ was conducted at the project site on Wednesday.
Total income stood at Rs 50.70 crore in the second quarter of this fiscal, as against Rs 1,101.90 crore in the corresponding period of the previous year, according to a regulatory filing.
Total income stood at Rs 220.07 crore in the second quarter of this fiscal as against Rs 623.81 crore in the corresponding period of the previous year.
The company is proposing to raise Rs 165 crore through NCDs, which will also be backed by the Puravankara Group. At the end of 2019-20, Melmont had Rs 130.2 crore of debt outstanding, which was held entirely by the parent, the ratings agency said.
The latest example of a foreign investor stepping in came Tuesday, when India’s central bank asked Singapore-based DBS Group Holdings Ltd.’s India unit to take over capital-starved Lakshmi Vilas Bank Ltd.
BMC took possession of the Rs 200-crore property from the lessees, Prakash and Manoj Pandya, after they were charged with carrying out illegal constructions and digging a well without permission for the past several years.
While the year-on-year comparison for the first nine months of 2020 shows 35% decline in sanctions at 117 loans, the sequential growth is an indication of improving demand and liquidity scenario in the real estate sector.
On November 12, MahaRERA rejected a plea for compensation sought by Ashley Serrao and his father who had purchased a flat in Runwal Greens in Mulund in 2012.
The Reserve Bank of India’s House Price Index, which tracks home prices in 10 Indian cities, shows that return from owning housing real estate has plunged dramatically. The average return from owning real estate over the last decade has been 11.6% per year. Mint explores.
It is during this period that gated work campuses gained popularity among corporates, for whom innovative building designs and structures became the key to growth in a fast-developing and highly competitive world.
Many consumers haven’t paid their bills since the lockdown, complaining they were overcharged. If consumers from the rest of the state are included, then 1.35 crore consumers of MSEDCL have bill arrears to the tune of Rs 5,003 crore.
The Bombay HC has rapped a developer who has gone to celebrate Diwali in Mahabaleshwar while residents of a Santacruz housing society which is to be redeveloped by him have been awaiting transit rent for six months.
The four final bids for DHFL, submitted by Oaktree, Piramal Group, Adani Capital and SC Lowy, were to be put to vote Tuesday. DHFL is the first financial company in India to be put through a revamped administration framework.
Monetizing real estate assets can help corporate India retire long term debt of USD 341 billion according to JLL Research. An uncertain economic scenario has forced corporate finance heads to reimagine real estate assets as sources of funds to reduce debt.
The ‘Advanced Pick and Drop’ programme, ensures customer safety with a no-contact pick-up and drop service and live vehicle tracking in a completely paperless process.
Many consumers haven’t paid their bills since the lockdown, complaining they were overcharged. If consumers from the rest of the state are included, then 1.35 crore consumers of MSEDCL have bill arrears to the tune of Rs 5,003 crore.
On November 12, MahaRERA rejected a plea for compensation sought by Ashley Serrao and his father who had purchased a flat in Runwal Greens in Mulund in 2012.
Monetizing real estate assets can help corporate India retire long term debt of USD 341 billion according to JLL Research. An uncertain economic scenario has forced corporate finance heads to reimagine real estate assets as sources of funds to reduce debt.
When you are getting a desk lamp, then make sure that it can be easily adjusted and allow you to finely adjust the focus of the beam and glare of light as per your requirements.
The study is based on findings from the India Residential Energy Survey (IRES) 2020 conducted by CEEW in collaboration with the Initiative for Sustainable Energy Policy (ISEP) covering nearly 15,000 households across 152 districts in 21 states.
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 cumbersome process of auction and allotment of plots and tenements is proposed to be simplified and made more transparent by migrating the entire process onto a well-developed software,” GHB chairman Subhash Shirodkar said.
Average new home prices in 70 major cities climbed 0.6% in August from a month earlier, a touch better than a 0.5% increase in July, according to Reuters calculations based on data released by the National Bureau of Statistics on Monday.
“Over 342 cases were heard online and 187 orders issued during the period,” a MahaRERA official said, adding that the office was at present working in a 100% digital way.
The project, Anandghan in Pune, had come to a standstill in 2018, "leaving flat buyers high and dry", observed the a bench of Justice Ujjal Bhuyan and Justice Abhay Ahuja.
Corporate guarantors include Gadgil Holdings Private Limited and Dajikaka Gadgil Developers Private Limited, and also individual guarantors Saurabh Gadgil and Radhika Gadgil, for paying dues of Rs 112 crore as of August 28.
1,500 hutments were demolished in Ambedkar Nagar in 2017 for allegedly encroaching on mangrove land; committee set up to examine if slum dwellers can be rehabilitated.
Net absorption of commercial real estate across the top 8 cities declined over 73% from a year ago and 49.5% on-quarter to 3.72 million sq ft during the quarter as fresh transaction activity remained muted, showed data from Cushman & Wakefield.
The company has leased the space to Boston-headquartered State Street Corporation, US conglomerate Hasbro, American-Canadian digital media and broadcasting company Vice Media, and Temasek Holdings’ portfolio company STTelemedia.
A flat purchaser for one of the construction projects by Bhagtani builders has approached the Bombay High Court seeking an Enforcement Directorate investigation into the case against them, terming the Mumbai Economic Offences Wing’s investigation as inadequate.
“Our collections grow in the range of 10-15%. Last year, the receipts grew close to 10%. But this year, there is uncertainty,” said an official of the stamp and registration department.
The Shopping Centres Association of India (SCAI) has said that over the last two months, the organised retail industry has suffered losses of over Rs 90,000 crore and large-scale unemployment is a real possibility in the absence of financial relief and government support.
MMC chairperson Ryan Braganza said the proposal to waive off the rent from March to August will be forwarded to the directorate of municipal administration for approval.
The order was in an application by a Kandivli resident, Mohan Brahme that the project by J P Realtors and Suraksha Realty is without environmental nod though area is over 20,000 sqm.
The CBD officials said that apart from repairing the defunct lights they would also erect more than 250 new LED streetlights with poles at various places.
Buildings first converted into a shelter for migrants and then into quarantine center; beneficiaries say rent not paid in 7 months, the builder says all payments made till March.
Besides Investcorp, Nexus Ventures Partners, Mirae Assets and Trifecta Capital, among others, participated in the funding round, taking the total capital raised by the company to USD 90 million, Zolostays said in a statement.
The developer will be allowed a floor space index of 2.5 in a green zone. The 15,000 EWS units will comprise 50% of the project, while the balance will be for sale in the open market.
Indian Oil’s registered office building stands on a 1,200-sq m plot in BKC’s C-50 zone that was allocated in April 2004 for a lease period of 80 years.
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.
Sunteck will be developing the entire project in phases over the next 5-7 years and is estimated to have a total development potential of 4.5 million sq ft with revenue of Rs 5,000 crore.