Oberoi Realty has hit the top slot in Mumbai's ranking of the top-20 developers in terms of sales in 2021, evicting the Runwal group which was number one last year. The Lodha group which had occupied the top slot three out of five times since 2017 slipped to second place in 2020 and continues to be in the same position in 2021. The Oberoi group was in fifth place in 2019 and fourth place in 2020. This is the first time that it has occupied the number one position. The Runwal group which took the top slot in 2020 is down to third place in 2021.
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
The plot C-65 in the G Block of Bandra Kurla Complex was leased to Goisu Realty (a unit of Sumitomo) for 80 years by MMRDA.
To energise a dull real estate market, Mumbai developers are lining up prelaunches of residential apartments. This is a popular way to raise funds before construction begins.
The Lodha Group has bought land parcels worth Rs 12,000 crore in Mumbai
Real estate developers are banking high on ultra-luxury projects.
CREDAI-MCHI, a body of developers in Mumbai, has pegged the drop in sales booking at around 80 per cent in the February-March period this year. This is the second highest fall in residential sales in the past five years, after Q1, 2017, when the decline, due to the note ban, was 37 per cent.
Piramal Fund Management has emerged as the largest lender to real estate developers at a time when the sector is facing severe slowdown.
'Bumrah is a class act.' 'Bhuvneshwar makes the ball move and that is why he will be successful over in England.'
Slump in realty market to add to woes, debt of top players likely to rise 15-20% this financial year
Plan to lay off excess staff, trim salaries of top executives.
Like Diwali, Christmas is one of the crucial sale periods for retailers and most of the retailers saw 15-25 per cent like-to-like growth in pre-Diwali sales this year.
Canada Pension Plan Investment Board has stringent processes and systems, which are proving to be a stumbling block
Consultants say at Rs 1,442 a sq ft, the developer has got a good bargain.
Retailers and mall developers have seen 35-50 per cent growth in the first two weeks of the end-season sale.
Of the 300 operational malls in the country, just 5-7 per cent, or about 20 malls, are doing well, suggest analysts reports.
Cashi Crisis: Day 9: Aaj ki Taaza Khabar!
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