'As long as economic growth remains steady, creating jobs and generating stable incomes, the rise in home loans should not create problems.' 'If the growth trajectory changes course over the medium term and interest rates rise along with inflation, the expanding trend in home loans may not sustain.'
The net leasing of Grade-A commercial office space in India will stagnate this financial year at 32-34 million square feet, with global uncertainties brewing caution among key tenant categories, according to the latest Crisil Ratings report. Major seven cities in India - Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai Metropolitan Region (MMR), National Capital Region (NCR) and Pune - had Grade-A office space with an operational stock of around 705 million square feet as of March 2023. India's commercial office space is dominated by technology companies, with information technology (IT) and IT-enabled services (ITeS) companies occupying 42-45 per cent of the operational stock.
The spike in food prices at the onset of the monsoon season has corroborated the Reserve Bank of India's (RBI's) view that the fight against inflation is far from over, the State of the Economy report of the central bank said. At the same time, the report said that the country is poised to become the fastest-growing major economy in the world, notwithstanding some sequential moderation in economic activity in June. Consumer Price Index (CPI)-based inflation rate increased to 4.8 per cent in June 2023, from 4.3 per cent in May, primarily on account of an increase in food inflation.
'The ability to tailor schemes to market conditions and invest in unlisted equity and real estate, as well as commodities, makes Alternative Investment Funds a sought after platform.'
The US is currently Earth's most powerful country and a certain latitude of understanding -- a world view -- is popularly expected from its leadership. From a country identified with freedom, constitution, debate, democracy and the likes of Abraham Lincoln even as it had the most powerful military around, the US, following Trump's actions, seemed repositioned as militarily powerful with other qualities secondary, observes Shyam G Menon.
The key demand drivers -- such as low home loan rates and income tax sops, particularly for affordable housing -- that supported the recovery in H2 FY2021, remain in place and will spur recovery again, feel experts.
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.
The Coimbatore suburb has been growing significantly due to strong economic policies, says Naveen Nandwani.
Most analysts had predicted a decline in real estate fixed asset investment.
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
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.
The office space absorption in seven cities, Delhi-NCR, Mumbai, Kolkata, Chennai, Bengaluru, Hyderabad and Pune, rose 14 per cent during the July-September quarter compared with the year-ago period.
Another major development is REITs coming closer to reality
The investor has now put together a fund of $3.75 billion to back private companies.
In the July to September quarter of 2023-24 (Q2FY24), Voltas' revenues grew by 29.7 per cent year-on-year (Y-o-Y), but the adjusted net profit was down by 63 per cent Y-o-Y. The revenues hit Rs 2,290 crore, led by growth in the Unitary Cooling Products segment (up 15.4 per cent Y-o-Y, and in the EMP (Electromechanical project) business (up 66.8 per cent Y-o-Y). The UCP revenue rose to Rs 1,200 crore in Q2FY24, driven by volume growth despite weak consumer spending - the three-year annual growth is 18 per cent.
'The demand for housing is always increasing, and so is housing shortage.'
Info Edge (India) reported a good fourth quarter for the 2022-23 financial year (Q4FY23) given depressed conditions in the Key IT segment. The billing growth of 13.7 per cent year-on-year (YoY) in recruitment was well ahead of market expectations. There was solid growth in realisations (up 5.5 per cent) as well as unique customers (up 7.7 per cent).
The GST Council had given the option to real estate companies to either opt for old rates of 12% (for residential) and 8 per cent (affordable housing) with ITC benefits or the new tax rates of 5% for residential units and 1% for affordable housing without the benefit of adjusting the credit on inputs used during construction.
Tata Realty and Infrastructure, a subsidiary of Tata Sons, is looking to expand its business with over 50 projects across major cities in India, Sri Lanka, and the Maldives. The combined projects boast a development potential exceeding 51 million sq ft, according to a top executive. The Mumbai-based real estate major has completed the first phase of project developments in Male (the Maldives), and is gearing up for the second phase. It has also expanded its footprint in Sri Lanka and plans to add about 2 million sq ft. in Colombo.
Observing that MSME sector plays an important role in the growth of the Indian economy, RBI said the restructuring of the borrower account has been extended by further one year to March 31, 2021.
Blackstone has bought A Wing and some part of B Wing of the building, which has three wings with a total area of 1.5 million square feet.
Ishaan Real Estate is an investment company that focuses on property development projects in southern and western India.
Demand for Grade A office space is rising across the country.
With the Jaypee acquisition, the Suraksha group, which made lenders an offer of Rs 7,736 crore, will be able to expand its footprint in north India after making inroads in Mumbai's real estate market over the past year. Sudhir Valia, the promoter, was a co-founder and executive director of India's biggest pharmaceutical firm, Sun Pharmaceuticals, and is a close relative of Dilip Shanghvi.
The company, a brokerage firm, will offer sales, leasing, short-term rentals, property management, commercial advisory\nand project sales and marketing services to its customers.
It's all eyes on the consumer durables sector during the festival season after a weak Q1FY24 and Q2FY24 was impacted by an erratic monsoon. Traditionally, this period sees the highest number of purchases. Dealers and manufacturers are complaining about low business-to-consumer (B2C) off-take during the first half.
Real estate, or property, is one of the one of the major asset classes people the world over invest in. Such real estate could be residential house property, whether self-occupied or let out, commercial property, whether used for one's own business or profession or meant for letting out, farm house, agricultural, urban and rural lands, and so on. Through proper planning it is possible to save a great deal of tax on real estate investments -- on income and on capital gains.
Some developers point out that what comes in the way of low-cost housing is the sky-high price of land
The shops became a subject of a political controversy last week.
Some of the country's largest listed real estate developers - DLF, Prestige Estates, and Puravankara - are foraying into the Rs 50,000-crore residential property market of Mumbai, where home prices are among the highest in the world. All of them are set to launch residential projects in the financial capital of the country, where the market is dominated by players such as Runwal, Lodha, and Oberoi Realty, among others. Leading the race is Prestige, which has lined up 6 million square feet (msf) of new launches in the city across Mulund and Byculla in the third quarter of this financial year (2021-22).
Typically, about four to six weeks ahead of the polls, activity in the property market picks up as politicians begin to pull out their money parked in real estate. But this time, it's all quiet till now in real estate so far.
The fund is to invest in income generating assets such as malls, office complexes among others.
Bharti Retail launched its first mall, The Pavilion, in Ludhiana.
Financial assets make a comeback as returns on physical assets falter.
Housing sales across top eight cities rose 51 per cent last year, even as the office market continued to slump due to the Covid pandemic with gross leasing witnessing a 3 per cent fall, according to Knight Frank India. Housing sales increased to 232,903 units during last year, from 154,534 units in 2020, but demand was down 5 per cent from the 2019 pre-pandemic levels and 37 per cent lower than the 2011 peak numbers. In the office segment, the gross leasing of office space fell to 38.1 million square feet in 2021, from 39.4 million square feet in the previous year, due to the adverse impact of the second wave of the Covid pandemic.
Ginger Hotels, the no-frills brand by Roots Corporation, a 100 per cent subsidiary of Indian Hotels which operates Taj Hotels Resorts and Palaces, is in talks with real estate developers to rent space in commercial complexes to run its hotels.
About 22,300 NRIs across UAE participated in the survey which was conducted to understand the reason of buying property in India, preferred cities for investments, type of property, time frame, budget and finances planned. Indian cities are also in the top 25 real estate destinations in the Asia Pacific region for real estate investment destinations.
Israeli businessman Yitzhak Tshuva, who controls the Elad Group, has sold his 60 per cent stake in the Plaza Hotel, a report in the Israeli daily newspaper Haaretz said.
According to Knight Frank, in the second half of 2015, launches will be down 52 per cent (from 37,643 in the second half of 2014) to 18,000, while absorption will improve 24 per cent.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances