Gurugram, already established as the corporate hub of Delhi-NCR, is increasingly attracting developers from outside the region, drawn by robust end-user demand, premium pricing, and emerging development opportunities.
Top real estate developers reported healthy presales growth in the second quarter of FY26, aided by a steady pipeline of new project launches. While overall housing momentum across major Indian cities moderated during the quarter, listed players remained relatively insulated.
'The market today is different -- more mature and conducive. As a national player, you can't not be in Mumbai. And competition is always good.'
'The final arrangement within our family was documented in our amended family agreement dated March 31, 2017. We confirm that both of you have no right of any form in the other brother's business of assets.'
In a big-ticket land deal, realty major DLF has sold 17 acres of prime land in Mumbai to Lodha Developers for about Rs 2,700 crore (Rs 27 billion), nearly four times higher than the price at which the company had bought this parcel seven years ago in 2005.
Reviving its IPO plan for the third time, realty major Lodha Developers has filed draft papers with market regulator SEBI for its proposed initial public offering to raise around Rs 2,500 crore, according to sources.
The pandemic caused construction delays at its ongoing projects due to several factors such as lockdowns enforced by government agencies, work-stoppage orders, disruptions in the supply of materials and shortage of labour resulted in failure to meet development milestones.
The ruling Bharatiya Janata Party received over Rs 785 crore in contributions from individuals, electoral trusts and corporates in 2019-20, which is over five times more than what the Congress received during the same period.
Bank of America Merrill Lynch and JP Morgan are bankers for the bonds
Lodha Developers on Thursday said it has completed the acquisition of 17-acre prime land in Mumbai from realty major DLF for Rs 2,725 crore (Rs 27.25 billion) -- the largest realty deal so far this year.
To reduce its mounting debt, DLF, the country's biggest real estate company, is set to sign a deal with Mumbai-based Lodha Developers for selling one of its showcase non-core assets the 17-acre National Textile Corporation (NTC) land in Mumbai.
Moody's said the negative outlook reflected uncertainty over the refinancing of Macrotech's (formerly Lodha Developers) upcoming debt maturities.
About 7 per cent was priced between Rs 3 crore and Rs 5 crore, 22 per cent priced between Rs 5 crore and Rs 8 crore, and 15 per cent above Rs 8 crore.
Mumbai-based realty firm Lodha Developers, which plans to hit the capital market with its IPO early next year, will invest Rs 6,000 crore (Rs 60 billion) in the next three years on construction of its existing projects.
According to sources close to the development, the ministry feels that the National Textile Corporation (NTC), which has put the land on sale, will get better prices than the bid put in by Lodha Developers. The company, which had initially placed a bid of Rs 657.90 crore (Rs 6.57 billion), later hiked it to Rs 710 crore (Rs 7.1 billion), following a request from NTC.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
The real estate developer may have deferred its IPO and realty may be in the dumps, but that hasn't stopped it from making acquisitions worth Rs 12,000 crore.
In mid-2020, when Kushal Pal Singh, the undisputed king of India's vast real estate market, relinquished the top post at the country's largest realtor, he left behind an empire that is best compared to the Greek myth of the Phoenix. Once the leader of Delhi's organised real estate market, DLF's steep decline in the 1970s and its majestic rise since has often been cited as a business resurrection story. Now, a year after his departure from the helm of affairs, history seems to be repeating itself at the real estate major. In the 1970s, it was the government prohibitions that had forced DLF to venture into uncharted territory; some five decades later, the Delhi-headquartered firm has set its eyes on another growth trajectory that holds immense potential.
Hurun Report and GROHE India named Lodha Developers' M P Lodha and family as India's richest real estate entrepreneur with a wealth of Rs 31,960 crore, followed by DLF's vice chairman Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively. Total wealth of top 100 Indians in the real estate sector stood at Rs 2,77,080 crore -- up 17 per cent against 2018. While Mumbai accounted for six of the top 10 and 37 of the 100 names, Delhi and Bengaluru had 19 residents each who featured on the list. Smita V Crishna of Godrej Properties featured as the richest woman.
The bosses of SBI, Union Bank and Central Bank have been driving down to their offices everyday to take stock of the biggest loan drive ever undertaken for MSMEs, discovers Tamal Bandyopadhyay.
Recently, DLF sold 17 acres of prime land in Mumbai to Lodha Developers for Rs 2,700 crore.
DLF has wind power plants in four states with total installed capacity of 227 MW.
RBI is expecting the rupee to stay close to Rs 75 to a dollar, as COVID-19 forces foreign funds to withdraw from emerging markets.
The National-Capital based realty major will also launch 9-10 million sq ft of real estate projects during the second half of the current financial year.
The company said it has received Rs 2,727 crore in full from Lodha Developers against the sale of 17-acre land in Mumbai and will utilise almost entire proceeds to cut whopping debt of over Rs 22,000 crore.
DLF had bought 17.5 acres of land in 2005 from the National Textile Mills for about Rs 700 crore (Rs 7 billion).
Lodha Developers plans to build the world's tallest residential tower at a cost of Rs 2,000 crore (Rs 20 billion) in central Mumbai.
The deterioration in the market mood has directly impacted fund-raising plans of real estate developers, many of whom have either delayed their initial public offers or have decided to go slow.
A property in Mumbai has always been a real estate developer's prized catch.
Lodha Developers has emerged as a new realty giant in India.
Godrej Properties, part of the Godrej group, may float an initial public offer of about Rs 500 crore (Rs 5 billion) in the next three months, said a banker close to the development. The company plans to sell 9.4 million equity shares in the IPO, which will constitute 13.5 per cent paid up capital of the company, the draft red herring prospectus filed by it showed. The company also plans a pre-IPO placement of 2.4 million shares with investors, the company said.
Property developers plan more launches in the sub-Rs 20 lakh category of homes, after Monday's Budget concession.
Operating sales in Mumbai and London were weaker by 20 per cent and 50 per cent, respectively.
Many developers are facing financial challenges after the IL&FS defaults, after which non-banking finance companies - the major financiers to real estate firms - slowed disbursals.
50% of south-central Mumbai's high-end apartments remain unsold. The reasons include rocketing prices and a demand-supply mismatch. Of the unsold stock in south-central Mumbai, 38 per cent comprise units sized above 2,000 sq ft carpet area - too high for even wealthy Mumbaikars.
Mumbai-based real estate firm Lodha Developers plans a public issue by the year-end to raise between Rs 2,000 and 2,500 crore (Rs 20 to Rs 25 billion), according to sources.
Half a dozen companies looking to tap the market as the Indian rupee stabilises and oil prices cool down.
Piramal Realty received equity funding from Warburg Pincus and Goldman Sachs in July.
Fitch on Monday said the likely upturn in the country's investment climate and reduction in interest rates will improve the property market by the end of March 2016.
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