Developers based outside Mumbai are making a beeline for India's largest real estate market through redevelopment projects. These include Delhi-based DLF, Bengaluru-based Prestige Estates and Puravankara, Pune-based Kolte-Patil Developers and Vascon Engineers, and Hyderabad-based Ramky Estates.
15 to 25 per cent of property registrations in Mumbai come from redevelopment, with over 3,500 projects approved by May 2024.
With the stock markets falling, four initial public offers (IPOs) that opened this week are facing rough times and finding it difficult to get investors.
The Kanakia group, from which Mapletree did the purchase, had bought the plot from India Tube Mills and Metal Industries for Rs 363 crore in 2018.
Monte Carlo has raised a little above Rs 100 crore (Rs 1 billion) from anchor investors at Rs 645 a share.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.