A recent report by Citi had pegged the total amount stuck in stalled projects across seven major Indian cities (Bengaluru, Mumbai Metropolitan region, National Capital Region, Ahmedabad, Hyderabad, Kolkata and Pune) at Rs 80,000 crore.
Listed realty developers saddled with unsold properties worth Rs 1 trillion
Housing sector to benefit from Budget.
The industry status will help the sector access bank lending at average interest rates
Real estate sector cheers reforms in the Budget.
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
Though the developments are positive, analysts say the benefits will accrue only in the long run
Enquiries indicate it belongs to an industrialist with links to a prominent cricketer.
The BSE Mid-and Small-cap indices outperformed their larger peers rising 72 per cent and 52 per cent, respectively, during Samvat 2070.
At a time when capital allocations to real estate are growing globally, investors are expecting transparency standards in real estate to be at par with other asset classes, says Anuj Puri.
In his Budget speech, the finance minister said: "We propose to facilitate higher investment in affordable housing. Affordable housing will now be given infrastructure status, which will enable these projects to avail the associated benefits."
After Maharashtra, analysts expect more states like Karnataka and Haryana to slash stamp duty rates. However, analysts, do caution that it's still a long road to recovery for the realty sector.
'What happens in the real estate market is that once the prices go up it goes on to stay at that level.' 'It might not increase and at the same time the prices will not come down too.'
Developers are cautious about the timing of launches in the near term, given the relative uncertainty in demand pick-up and logistical challenges during the lockdown. However, affordable housing projects slated for the first quarter (Q1) of 2020-21 (FY21) may get launched this quarter itself.
According to market experts, GST Bill, movement of the rupee and uncertain global cues amid expected rate cut by the US Fed will dictate the movement of the markets.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
Broader markers outperformed their larger peers.
Experts attribute this to new launches in anticipation of a demand revival after the 2014 general elections.
Real estate firms like DLF, Prestige, Phoenix Mills to benefit.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
While office and mall properties enjoyed revival and saw some big PE deals, residential real estate was hit by double whammy - stagnating prices and demonetisation
'The concept of an MP IPL team is the brainchild of Kamal Nath.' 'If the Congress government comes to power in the state, he will assemble an IPL team for MP with the assistance of his business contacts.'
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Raghavendra Kamath reports on what ails India's real estate sector.
The S&P BSE Sensex shed 286 points to close at 24,539 and the Nifty50 lost 100 points to end at 7,456.
The promoters who own the Leela brand will also be transferring the label to Brookfield for all hospitality businesses.
The 30-share Sensex ended up 248 points at a record closing high of 27,346.
Investors booked profits at higher levels despite the growth oriented Budget.
Income from renting of properties is taxed at a flat rate of 10%.
The company is confident that more hotel owners will be keen to associate themselves with the Hilton brand, the second-biggest hotel chain globally after Marriott.
Mumbai developers are battling high inventory.
The S&P BSE Midcap and the S&P BSE Smallcap indices added 0.5% and 0.7%, respectively
Investors cheered a sharp decline in the Current Account Deficit, which stands at a 4 year low as exports picked up and gold imports reduced.
These exist in a unique world of by-invitation-only properties -- those that are never advertised and which money alone cannot buy. One cannot simply walk in for a tour of these apartments. A buyer must first meet the developer's targeted social criteria to get invited for a walkthrough of the property.
Budget in the medium term aims to kick-start the investment cycle.
Here's the full text of President Ram Nath Kovind's customary address to the joining sitting of Parliament on the first day of the budget session.
In an hour-long chat on rediff.com on Thursday, A K Prabhakar, senior VP and Head - Equity Research (Retail), Anand Rathi Financial Services Ltd, answered some important questions on the market.
Despite the rally, on the basis of valuations, Indian markets aren't too expensive, says Christopher Wood, managing director and equity strategist at CLSA.
