Bengaluru-based Prestige Estates Projects recently said it aims to double its annual residential sales bookings to Rs 25,000 crore by FY26 from its current markets and others such as Mumbai, Pune and National Capital Region (NCR). The company's chairman and managing director Irfan Razaq tells Raghavendra Kamath about his plans to achieve the target and outlook for the real estate market.
Brotin Banerjee, managing director and CEO of Tata Housing, shares the company's plans and strategy with Raghavendra Kamath.
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
The six-year-old Tesco Hindustan Service Centre, the Bangalore-based support centre of Tesco Plc, the world's third largest retailer, is gearing up for the retail giant's cash-and-carry outlet opening by year-end.
In a chat with Raghavendra Kamath, the group's co-founder and managing director, Niranjan Hiranandani, talks about the company's plans and the property market in the country.
We look at strong companies. We tell them to conserve liquidity and conserve cash so that they can survive this period of downturn and come out stronger, says Shahzaad Dalal.
Greed is coming back. So, developers can increase prices. I am sure that prices will not go down from here onwards.
There is pain in the business when you expand and bank credit is difficult to come by. Everybody has to readjust the pace and speed with which they are growing, says R Subramanian.
UK's leading department store chain Debenhams has so far opened two stores in India alongwith its franchisee partner, Planet Retail.
The tie-up with Tesco for backend support has provided Tata's retail arm, Trent, a further boost. Nevin John and Raghavendra Kamath spoke to Noel N Tata about the arm's expansion plans and issues in the sector.
The UK's Marks & Spencer (M&S) has plans to position itself as a mid-market mass retailer in India and is eyeing a chunk of its revenues from India in the next few years. M&S has severed its partnership with Planet Retail and has entered into a deal with Reliance Retail. Its existing stores will be absorbed in the current partnership eventually. M&S will be positioned as a mid-market retailer in India. It chose Reliance as it moves quickly in its line of businesses.
Shankar Prajapati, a 57-year-old potter in Dharavi, has given up hope of getting a bigger house for his family. He lives cheek by jowl in a hutment measuring 200 square (sq.) feet (ft) in the nondescript shanty town. "We have surrendered to our fate. We cannot wait forever for better accommodation. "Perhaps we are not meant to dream big," despairs Prajapati. Raju Korde, president, Dharavi Redevelopment Committee, and a local resident, agrees with Prajapati.
One of Mumbai's biggest real estate redevelopment projects of Bombay Development Directorate's (BDD's) chawls (large buildings divided into many separate tenements, offering cheap, basic accommodation) has taken off in Central Mumbai, opening up a Rs 20,000-crore opportunity for real estate companies. It is expected to drive down real estate prices in Central Mumbai by up to 25 per cent, forecast real estate experts. Spread over 92 acres in Central Mumbai's prime localities of Worli, Lower Parel, and Dadar and consisting 195 four-storey houses, the BDD chawls were constructed in the 1920s.
After years of living with his family in a poky 110 sq. ft. 'house', textile worker Sambhaji Surve dreams of moving into a home four times the size once the Maharashtra government starts its ambitious redevelopment of the 39-acre Kamathipura shanty town in south-central Mumbai. Sharing his dream are about 8,000 other families hoping for a better life when the redevelopment project, part of the government's effort to redevelop old settlements and make life more livable for some residents, gets underway. The Shiv Sena-Nationalist Congress Party aims to redevelop BDD Chawl and Dharavi but for Surve all the matters is Kamathipura where he arrived in the 1970s from Nasik to work in a textile mill. Kamathipura was originally built 150 years ago following construction of a causeway to connect the seven islands of Mumbai. From the British Raj to post-independence, it became infamous for slums and brothels.
Goldman-HDFC JV and OYO Hotels & Homes are betting big on student housing, says Raghavendra Kamath.
Modi's demonetisation move has hit the real estate market in Delhi and Mumbai
CEOs have complained that high interest rates have blocked their investment decisions. At the same time, customers are also deferring their purchases for new consumer durables, cars, and homes.
While Gurugram sees biggest drop in house prices, housing sales in Bengaluru dropped by 45 per cent followed by Kolkata, a 44 per cent decrease, and Ahmedabad, a 42 per cent decline.
Some sectors like aviation, hospitality, travel and tourism, and automobile have witnessed zero cash flow since the lockdown began.
Mumbai, India's financial capital, is set for a mega transformation with a massive patch of land opening up for redevelopment; a new metro railway ready to start services by the year-end; and the country's oldest railway station, the Chhatrapati Shivaji Terminus, going for modernisation with private sector participation. Work on Mumbai's second airport will start from next month, while construction of the sea link connecting central Mumbai to Navi Mumbai has already moved into a fast lane despite Covid-induced lockdowns. Also, a coastal road project, connecting Nariman Point to Worli, is under way and will help decongest the city to quite an extent. Of all these mega infrastructure projects, the one that has a huge potential to change the city's skyline is the Eastern Waterfront project - to be built on the Mumbai Port Trust (MbPT) land.
Swanky flats, mall to replace the iconic property.
'Financial independence will help unlock the full potential of these businesses.'
Chief executives in the real estate, consumer products, automobiles, construction, and textile sectors said they were all expecting workers to re-join in the next 45-60 days, which would help them ramp-up production from July.
The total wealth of top 100 real estate barons accounted for Rs 2.37 trillion ($32.7 billion) in 2018, up 27 per cent against 2017's cumulative wealth of Rs 1.87 trillion ($28.6 billion).
Over 25,000 sq ft leased by them in last three months after new maternity Act. Raghavendra Kamath reports.
Chinese companies who were actively pursuing business opportunities in India have adopted a wait and watch approach following the Chinese government clampdown.
Corporate leaders said a stable government at the Centre will help boost infrastructure spend, address agricultural distress, and encouraging employment.
Looking for a way out, property developers deal in banned notes.
From auto, refrigerator, and mobile handset makers to real estate firms, companies are tying up with banks to dole out attractive finance schemes and discounts to make buying more affordable.
Oberoi Relaty expect 20-25 per cent premium for tis residential project.
'After that, volumes and prices would move up.'
Urban planners and real estate experts say bad town planning in Mumbai and rising deaths during the ongoing pandemic are a "sad reality". Dev Chatterjee and Raghavendra Kamath report.
It is raining private equity funds in the logistics and warehousing space.
At 9.5% of sales, Zara offers the best revenue share to Mumbai's posh Oberoi mall. This is the highest revenue share offered by any fashion retailer for an anchor position in a mall.
As freebies/gift vouchers attract GST, retailers are opting for straight discounts this festive season.
Office space on mill land in central Mumbai expected to reach 16 mn sq ft by 2021.
For India Inc, latest GDP figures signal a turnaround.
The largest e-commerce entity of China is setting up its first India office -- an indication that it intends to capture a pie of the growing e-commerce market here. Raghavendra Kamath & Alnoor Peermohamed report.
A fourth of the property market is cash-based and this has affected home sales after high value notes were scrapped.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances