Proceeds may be used to partly pay off its Rs 46,570-cr debt
The government on Thursday proposed reduction in stamp duty on real estate deals to less than five per cent in order to prevent tax evasions.
The Opposition had promised to scrap the Dharavi redevelopment project if it came to power. With the Mahayuti's massive mandate in the Maharashtra assembly election, that prospect has been laid to rest.
Developers have demanded lower borrowing cost for the housing sector as well as reduced taxes to promote affordable housing.
Its proximity to popular tourist destinations like Agra, which attracts 45 per cent of the international passenger traffic at IGI, could be diverted to Jewar.
Only investors with knowledge of cryptocurrencies, long-term conviction, and a long horizon should invest in this asset class.
Government will make a fresh bid to pass crucial bills on GST and real estate in the last week of the Winter session.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
Indian real estate market remained buoyant in January-June this year, with housing sales hitting an 11-year high at 1.73 lakh units and office demand at a record 34.7 million square feet across eight major cities, according to Knight Frank. On an annual basis, housing sales rose 11 per cent to 173,241 units while leasing of office space grew 33 per cent to 34.7 million square feet during January-June this year across eight major cities. Shishir Baijal, chairman and managing director, Knight Frank India, said, "India's real estate market has been buoyant in the last few quarters owing to the strong economic fundamentals and stable socio-political conditions."
'Retail investors, who had not seen such a massive correction in the SMID universe since COVID-19, are witnessing something like this for the first time. Panic profit booking may continue.'
'Investors should consider small and midcaps only if they can handle volatility and have a longer investment horizon.'
According to top Trinamool sources, mercurial Mamata Banerjee is again angry with the Congress -- even before the previous contentious issues could subside -- over non-allocation of a preferred bunglow for her party office in the capital. Banerjee had zeroed in on bungalow number 14 on Bishamber Dass Marg as the ideal place to house her party office in Delhi.
Congress General Secretary Digvijay Singh on Tuesday alleged that the ruling Bharatiya Janata Party had got 10,000 burqas stitched for its 'Karyakarta Mahakumbh' to be held in Bhopal on Wednesday, for which a real estate company had paid Rs 42 lakh to the tailor, a charge denied by the BJP.
Welcome to the era of too many investors chasing a limited number of commercial real estate deals.
The Enforcement Directorate made these claims in an official statement issued by the federal agency following its raids in this case at Chennai, Madurai and Tiruchirapalli on April 9.
'Even for operational buildings, we are looking to smarten them in various ways.'
'Why has Maharashtra slipped up over the past couple of decades?' 'Not only is this question critical for residents of the state, but given that it accounts for 14% of India's GDP, a faster-growing Maharashtra implies a faster-growing India as well, point out Shishir Gupta and Rishita Sachdeva.
Nearly 60 per cent of Indians think that next one month would be a good time to buy real estate with improvement in consumer sentiments following formation of a stable government.
India could attract as much as Rs 4,000 crore (Rs 40 billion) in foreign direct investment in real estate by 2010 if certain Acts pertaining to Urban Land Ceiling, Rent Control and Land Acquisition were repealed.
'All competitors are sourcing within the country, so we'll be at the same level of competition.'
The teenage boy's father, a real estate developer, and employees of Black Club pub Nitesh Shevani and Jayesh Gavkar, were produced before additional sessions judge S P Ponkshe.
Although the third quarter of financial year (2023-2024) FY24 (Q3FY24) was marginally below expectations, Info Edge (India) is witnessing strong investment trends and hitting new highs. The big driver is optimism about a pickup in the jobs market, which benefits Naukri.com and could mean upgrades in Q4FY24 expectations. The JobSpeak Index, which Naukri.com releases on a monthly basis, is showing a "transformative shift".
Real estate loans could become NPAs for banks.
Unaffordable real estate prices, hardening interest rates, fall in home loan disbursements and reluctance of developers to cut down prices do not augur well for the real estate market in India, feels V Hari Krishna, CIO of Kotak Realty Funds Group.
As Donald Trump registered a historic comeback in the US presidential election, many former Indian diplomats on Wednesday concurred that the India-US ties will "continue to grow" from strength to strength, even as some of them cautioned that Trump is "highly unpredictable" and New Delhi will have to "wait and watch" to see what position he adopts going forward.
With the real estate sector witnessing robust demand, realtors are doling out freebies and offering a slew of attractive schemes to lure potential customers this festival season. "Developers are providing Amazon vouchers that go up to Rs 1 lakh, iPads, and flexible payment plans that propel customer excitement," said Angad Bedi, managing director at real estate company BCD Group. Bedi said customers have a mindset to go for a change during the festival season, and developers see it as an opportunity to combine it with long-term and practical offers that drive buyers to close in on a deal during this period.
India is also exploring that way but the strength of the Indian economy was such that not even one bank was threatened, not even one insurance company was threatened, and we were able to withstand the shocks.
Shares of real estate firms have been outperforming over the past year. The rally, analysts say, may hit roadblocks in the near term amid stretched valuations, even as the long-term prospects for the sector remain ebullient. "Most of the positive news flow is already in the price. Hence, investors sitting on hefty profits may partially cash out at current levels," suggests V K Vijayakumar, chief investment strategist at Geojit Financial Services.
Developers are likely to start announcing their festive season offers soon, reports Sanjay Kumar Singh.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
CLSA has downgraded select real estate stocks and expects most counters from this sector to consolidate in the months ahead after the sharp run seen in them in the last few months. Most positive factors in terms of a pick-up in housing demand and office space absorption, it said, are already priced in. "We expect housing industry demand to grow around 12 per cent in 2024 and for large developers to outpace industry to grow at 15 - 20 per cent.
Firing yet another salvo at Narendra Modi government, Congress vice president Rahul Gandhi on Saturday claimed it had diluted provisions of Real Estate Regulatory Authority Bill making the legislation pro-builders from being pro-buyers.
The government on Tuesday proposed a relief to taxpayers with respect to capital gain tax on real estate properties by giving them the option to choose between 20 per cent and 12.5 per cent tax rates.
Of the Rs 4,405 crore unpaid debt of 12 companies, more than half was locked in just one Mumbai-based real estate company, Kohinoor CTNL Infrastructure.
Global rating agency Fitch on Thursday affirmed India's 'BBB-' rating with a stable outlook on strong growth outlook and fiscal credibility. Fitch said India is set to remain among the fastest-growing sovereigns globally with GDP growth of 7.2 per cent in the current fiscal year and 6.5 per cent in FY26, down from 8.2 per cent in FY24. "Fitch Ratings has affirmed India's Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'BBB-' with a Stable Outlook," the global rating agency said in a statement.
Incumbent DMK MP T Sumathy alias Tamizhachi Thangapandian will face-off former Telangana Governor and BJP leader Tamilisai Soundararajan, while the the AIADMK has fielded ex-MP Dr J Jayavardhan, who won from here in 2014.
Relaxation offered to infrastructure projects like transportation or terminal, township, logistics hub.
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