The BSE Realty index on Monday soared 4.3 per cent-most among the 19-sectoral sub-indices-buoyed by the proposal to formalise fractional ownership of real estate in the country. The Securities and Exchange Board of India (Sebi) on Friday issued a discussion paper proposing to regulate online platforms offering fractional ownership in real estate, a model already popular in countries such as the United States and UAE.
The BSE Realty index-a gauge of real estate stocks-rose 4.2 per cent on Monday, extending its two-day advance to 7.8 per cent. The latest gains came on the back of robust sales posted by realty developers in the March quarter of financial year 2022-23 (Q4FY23). On Thursday, the rate-sensitive index had gained 2.9 per cent following the Reserve Bank of India's decision to pause interest rate hikes in its latest monetary policy review.
With more new listings on the bourses trading at a discount to the offer price, retail investors are no longer queuing up for initial public offering applications.
Sobha Developers, a Dubai-based real estate company, will fund the ace Indian long junper's training ahead of the Athens Olympics.
Many businesses use charitable work to get project clearances and deviate people from bad publicity. Making corporate social responsibility mandatory would lower such misuse.
These homes aim to provide a safer, more energy efficient and a more convenient environment to live in.
Redevco, one of Europe's largest real estate investment and development firms, with a $10 billion portfolio, is understood to be looking at investing around Rs 300 crore in various projects of Bangalore-based Sobha Developers.
Akruti City, Omaxe, Sobha Developers, among other property developers, are pledging shares with lenders to provide additional security, apart from hypothecating properties to borrow funds, according to information submitted to the stock exchanges. Promoters of Akruti, Omaxe and Sobha have pledged their shares with Indiabulls Financial Services, financiers like Dubai-based BankSarasin & Co and Credit Suisse as a liquid security for loans against properties.
Bangalore-based Sobha Developers had a two-fold rise in its net profit to Rs 34.3 crore (Rs 343 million) in the April-June quarter. J C Sharma, Managing Director, spoke to Business Standard on the revival in demand and the company's growth plans.
Real estate company Sobha Developers' net profit has more than halved for the 2009 financial year, as property sales dipped sharply in the country, leading to dropping revenues and profits.
Puravankara Projects scores better than its peers on growth and profitability.
The sector, which is top five in terms of market capitalisation rankings two months ago, slipped to number eight position on Wednesday. On Tuesday, the Mumbai Metropolitan Region Development Authority (MMRDA) failed to get bids for two of the five plots that it auctioned in Bandra-Kurla Complex (BKC) in Mumbai.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
If you are already invested in real estate stocks, you've made your money, exit
P N C Menon, chairman of Sobha Developers, joined the billionaire club today, with the market value of his shares in his newly listed company touching Rs 6,135 crore
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Some major property companies based in South India, such as Puravankara and Sobha Developers, are spreading their wings in the high-growth National Capital Region market.
DLF, Indiabulls Real Estate, HDIL, YES Bank, Union Bank of India and Maruti Suzuki are down 4-12% on NSE.
Tata Housing, Bharti Realty have announced projects near Delhi.
Most of the 30-Sensex constituents led by M&M, Adani Ports, BhartiAirtel, Bajaj Auto, Hero MotoCorp, ICICI Bank, Sun Pharma, Cipla, HDFC Ltd, ONGC and Hind Unilever were trading in negative terrain, falling by up to 5.77 per cent.
Experts attribute this to new launches in anticipation of a demand revival after the 2014 general elections.
Durable, automobile and real estate players have been lobbying hard for a tax cut, saying it will boost demand.
Banks are not allowed to lend to developers for purchasing land parcels.
In the quarter ended September 30, the Pirojsha Godrej-led firm recorded Rs 492 crore net sales, up 49% year-on-year
Markets such as Bengaluru and Chennai, which had managed to escape the impact of real estate slowdown so far, appear to be giving in now.
The Reserve Bank on Tuesday asked banks to link the disbursal of home loans to stages of construction to protect the interests of buyers and contain the fallout of 'innovative' housing financing schemes.
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Nearly 40 developers participating in HDFC Indian Homes Fair in London would showcase thousands of property.
Tight liquidity will hit over-leveraged and cash-hungry companies, spare conservative ones
Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
Experts, however, caution that though the moves are positive for the sector as a whole, they don't expect much gain in the near-term.
Bombay Stock Exchange Sensex closed 30 points lower at 21,140 levels.
The BSE MidCap and SmallCap indices during this period have outperformed the blue-chip indices.
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
The 30-share Sensex ended up 12 points at 28,517 while the 50-share Nifty ended nearly unchanged at 8,660.
Experts feel select companies in banking, automobiles, financial services & real estate will gain from lower interest rates
The 30-share Sensex ended up 248 points at a record closing high of 27,346.
Shares of rate sensitive sectors such as realty, infrastructure, banking and automobiles ended higher ahead of the Reserve Bank of India (RBI) mid-quarter policy review on June 17.
Move to improve transparency but make liquidity more difficult to come by
With tiger stripes and India in its logo, Gautom Menon wants the world to drink Indian.
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