The other trend is towards the big and bigger, especially in the retail sector. Take The Great India Place in Noida, Unitech's 15 lakh sq ft "shoppertainment" destination which opened earlier this year.
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.
Real estate players say they are in talks with companies to build their customised stores in India.
HDIL has sold its commercial property in Andheri for Rs 900 crore to Mack Star Marketing.
Ascendas, which manages property trusts in Asia, said it will set up the $324 million Ascendas India Development Trust to invest in Indian real estate projects.
GVK Skycity's 20-million sq ft commercial space will be bigger than that in BKC; bids invited for first phase.
Real estate players also report an increase in demand from the IT sector.
The Kanakia group, from which Mapletree did the purchase, had bought the plot from India Tube Mills and Metal Industries for Rs 363 crore in 2018.
Owing to the risk perception attached with the segment by banks, the residential realty segment has been increasingly relying on non-banking financial companies and housing finance companies to raise debt financing, reports Abhijit Lele.
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.
Rentals for office space in Mumbai rise around 5-10 per cent, says a survey.
The real estate industry is divided over the impact of the proposed foreign direct investment (FDI) in multi-brand retail.
India Post plans to turn to its real estate holdings to beat the debt trap. It is considering commercialising its real estate to increase revenues.
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The existing shareholders will get one RPL share for each RCom share (of Rs 130 market price) held.
Out of the ten prime plots purchased by this joint venture, Delta Corp East Africa Limited (in which RIL holds 58.8 per cent stake) has completed construction of at least one low-cost residential complex
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 Knight Frank Global House Price Index rose by 0.9 per cent in the year to March 2012. Knight Frank is a global residential and commercial property consultancy.
Mall mania has hit the town what with 15 malls expected to be ready by 2009.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
The real estate sector is set to enter a progressive phase in 2015.
Rentals for commercial complexes fell sharply and the land, developers felt, could be employed for other purposes.
GE Commercial Finance, which has an asset base of more than $230 billion globally, is planning to increase its exposure in the Indian market.
Central Board of Excise and Customs chairman V Sridhar has also said the realty sector would not attract 10 per cent service tax in effect.
In layman terms this means that in cases where buyers purchase houses before completion of construction, builders would be levied works contract tax on the building material.
Rents have risen most in Delhi's Connaught Place and Gurgaon's Cyber City & M G Road. Because of slowdown, supply has been restricted but demand has risen.
Ajay Piramal bets highly on infrastructure, realty
He said trust and confidence were the backbone of any financial system and one should never underestimate the power of ethics and values.
Rakeen, a company promoted by Ras Al Khaimah, one of the seven emirates in the UAE, said it will invest $5 billion in India's real estate projects in partnership with a Chennai-based company.
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While private equity giant Blackstone and Pune-based realtor Panchshil Realty had offered Rs 800 crore for the building at Nariman Point, the building's owners -- Viveck Goenka, chairman and managing director of the Indian Express Group, and private equity firm ICICI Venture (which has 49 per cent stake in the property) -- expected the sale to fetch Rs 900 crore, said the executive.
Godrej Properties, is on the horizon as it unlocks value in its high-value Bandra-Kurla Complex (BKC) project.
NRI demand would help offset the liquidity problem, which is presently affecting realty sales.
In one of the largest FDI deals in realty sector, global private equity Warburg Pincus will invest Rs 1,800 crore (Rs 18 billion) in Piramal Realty, which would use the funds to develop mixed-use projects in the megalopolis.
According to sources, DLF raised the funds through issue of bonds with maturity period of five years with coupon rate of 12.5 per cent.
Since last month, the realty (down 23%), auto (down 16%) and finance (down 14%) indices have underperformed the market by falling over 13%, as against 8% decline in the benchmark indices
Stephen Hawking, in his final book Brief Answers to the Big Questions, considered an asteroid collision to be the biggest threat to the planet. At this point, we are as well prepared as dinosaurs were when a 10-km wide asteroid hit the planet 65 million years ago, notes Kumar Abishek.
These funds have lowered the entry barrier for investors who can now invest with just Rs 5,000, points out Sanjay Kumar Singh.
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