Properties located between Santa Cruz and Andheri in north west Mumbai are currently available at Rs 50,000 to Rs 100,000 per square feet, while in Dubai luxurious, fully furnished, properties are available at Rs 34,000 to Rs 60,000 per square feet of carpet area in the best locations.
After some enforced slowdown in offtake during April-May 2024 due to elections, the cement sector is looking at a possible demand rebound which may help it to push up prices. The April'24 offtake was muted while May'24 saw some improvement with a likely 5-6 per cent rise in demand month-on-month (MoM). In June, some price hikes seem to have been taken, which suggests more sustained improvement in demand.
Mortgage firm HDFC Ltd on Wednesday announced sale of a 10 per cent stake in its private equity arm HDFC Capital Advisors to a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA) for about Rs 184 crore. ADIA is also the primary investor in the alternative investment funds managed by $3 billion-HDFC Capital. Set up in 2016, HDFC Capital is the investment manager to HDFC Capital Affordable Real Estate Funds 1, 2 and 3; and is aligned with the government's goal to increase housing supply and support the Pradhan MantriAwas Yojana - 'Housing for All' initiative, HDFC Ltd said in a statement.
Credit outstanding to the housing sector rose by nearly Rs 10 lakh crore in the last two fiscals to reach a record Rs 27.23 lakh crore in March this year, according to RBI's data on 'Sectoral Deployment of Bank Credit'. Experts from banking and real estate sectors attributed this growth in housing credit outstanding to a strong revival in the residential property market post-COVID pandemic on pent-up demand. According to the data of the Reserve Bank of India (RBI) on sectoral deployment of bank credit for March 2024, the credit outstanding to the housing (including priority sector housing') stood at Rs 27,22,720 crore in March 2024, up from Rs 19,88,532 crore in March 2023, and Rs 17,26,697 crore in March 2022.
For those looking for more affordable options, purchasing an under-construction property could be a smart move, as these generally cost less than ready-to-move-in properties.
'I wonder if they will keep it up after the elections.' 'I fear they'll start questioning eligibility -- income, age, bank accounts -- and eventually stop the scheme altogether.'
'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.'
'It is a blessing to work at home. My family is always around me. I think that's what keeps me creatively charged.'
Delhi faces a severe financial crunch and the deficit is largely due to numerous welfare schemes without adequate revenue flowing in. The success of welfare schemes and electoral promises will need careful financial planning and out of the box thinking to whip up additional revenue, notes Ramesh Menon.
The new chief minister, if from the Congress, will have little or no time for political administration, to ensure that he does not lose the voter's goodwill even before the Lok Sabha polls. He can count only on one thing. That the BJP may not want to upset him too early lest an early failure should become an added problem for the party in all the polls to follow, predicts N Sathiya Moorthy.
Overall market reaction to the Budget was neutral. Investors absorbed the changes to the tax rates (positive for salaried class) and capital gains taxes (CGTs, negative due to the removal of indexation and increases. Other proposals largely pertain to supporting rural development, buybacks taxed as dividends, Custom duty changes that impact multiple sectors, higher outlays for clean energy, etc. There's some moderation in the growth of capex outlay across defence, fer
'The jury panel said that my collection should not be limited to a college fashion show; it had much more potential. They encouraged me to sign up for the annual National Designer Awards organised by the World Designing Forum.'
Renderlogy, an interior designing technology start-up, has a few initial hurdles to overcome before scaling and plunging into the larger market.
Developers could not find the model of affordable housing viable as they used same resources for premium projects and due to rise in cement and steel prices.
The company may partner with local governments and land owners to launch its projects.
Margins for developers have fell to 15-20 per cent in affordable segment.
Will it be Noel Tata, Ratan Tata's half brother?
'Our Constitution as well as the Right to Education Act do not make any distinction between Indian or foreigner; it only talks about 'child'.' 'It says that every child has the right to get education.'
Only double-income households can buy flats in India's top 8 cities, except Mumbai
The finance minister clarified that indexation benefits offered until April 1, 2001 would be protected. This means older properties, including legacy assets, would benefit.
'Russia is aiming at demoralising Ukraine as a nation.' 'They want to bomb the infrastructure, the electric stations so that regular citizens will not to be able to live, to cook, to give comfort to their kids.'
Vice President Kamala Harris, who is the Democratic presidential candidate, in an op-ed on Saturday, recollected her frequent visit to India as a child, and her mother's mission to cure cancer.
The court asked NBCC to "stay its hands" till July 2 .
'We will be able to provide 450 square feet house in Rs 5 lakh,' Nitin Gadkari said.
There is a shortage of 24.7 million housing units in urban areas at the beginning of the 11th Five Year Plan. Admitting the flaws in the housing sector planning for the huge gap between demand and supply, Selja said unfortunately the private sector only focuses on high-end housing and ignores low cost units.
The scheme is expected to activate the measures announced for the housing construction sector under the economic stimulus packages. It will increase the stock of houses ranging from 300 sq ft to 1,200 sq ft plinth area built at affordable rates on land provided by state governments.
United States President-elect Donald Trump on Tuesday said that he understands the Russian feeling with NATO (North Atlantic Treaty Organisation) being on their doorstep.
Once we break free of the idea that land is scarce, real estate is just a pile of bricks, steel, and glass. Any price surge will kick off a supply response, which kills off the possibility of sustained price appreciation, points out Ajay Shah.
Most brokerages are betting that the new government will shift to a policy focussing on boosting rural incomes and consumption since that has clearly been a pain point.
Yes Bank on Saturday reported over two-fold jump in standalone net profit at Rs 452 crore for March quarter 2023-24, primarily due to benefits on the provision front. In the year-ago quarter, the bank logged a profit of Rs 202.43 crore. The private sector lender benefitted from write-back on income tax and interest on income tax returns, but the profits were limited by its inability to comply with the mandatory priority sector lending (PSL) requirements, its management said.
India's financial sector is dominated by large government-owned and private-sector banks.
From real estate to metals, what Sitharaman's Budget has in store.
Haryana has done well in terms of economic growth over the last couple of decades. For it to continue to lead the growth ladder, the new government has to work hard on multiple dimensions, recommend Shishir Gupta and Rishita Sachdeva.
Knight Frank and Royal Institute of Chartered Surveyors in their report said that 10 million homes will be delivered by 2022 as targeted by the government.
The company is also exploring the markets of Bangalore, Nashik, Panvel, Thane and Pune among other cities for the same.
'If you look at the average age of all our candidates, you will notice that their average age is between 35 and 40. It is a kind of revolution that the MNS is bringing in Maharashtra.'
More than 50 per cent of SIP accounts come from semi-urban and rural areas.
In June, President Joe Biden issued a massive immigration relief to non-citizens offering a path to citizenship to the non-citizen spouses and children of American nationals.
The RBI's decision to hike the benchmark interest rate will make home loans costlier and affect housing sales, especially in affordable and mid-income segments, according to property consultants. The RBI on Wednesday hiked the key benchmark rate by 50 basis points. Property consultancy firms Anarock, Knight Frank India, JLL India, Colliers India, India Sotheby's International Realty and Investors Clinic said that the RBI's move was on the expected line to control inflation and this would result in an increase in interest rates on home loans.
'There are ominous portents of an isolationist administration not only building a physical wall to the south to prevent unwanted immigrants from entering the land of milk and honey, but also trade walls not just against China, but all nations,' foresees Sreekant Sambrani.
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