The Lok Sabha witnessed a heated debate Friday on an Ethics Committee report recommending Trinamool Congress MP Mahua Moitra's expulsion in the cash-for-query issue, with the Opposition demanding she be allowed to speak in the House, and the government contending her views were heard by the panel.
Trinamool Congress leader Mahua Moitra was expelled on Friday from the Lok Sabha after the House adopted the report of its Ethics Committee that held her guilty of accepting gifts and illegal gratification from a businessman to further his interest.
New law could pose challenges of cost escalation, increased paperwork, fear developers.
Discounts could be luring but onus of due diligence is always on buyer
Expelled Lok Sabha MP Mahua Moitra on Thursday failed to get any relief from the Delhi high court which refused to stay the eviction notice issued to the TMC leader asking her to vacate the government bungalow.
Real estate and hospitality major Hiranadani Constructions on Friday said it has plans to set up two Special Economic Zones - one in Powai and the other in the city periphery.
While about 8,000 people are in the long list of invitees, the select list features 506 A-listers, including prominent politicians, leading industrialists, top film stars, sportspersons, diplomats, judges and high priests.
'The rising cost of construction, the cost of doing business, high compliance, and inflation/interest rates going up have already reduced returns to single digits.'
India's residential market is expected to sustain demand momentum despite rise in mortgage and property rates as sales this year across the top 7 cities are likely to breach pre-pandemic level of 2.62 lakh units, industry players said. After braving four back-to-back disruptions in form of demonetisation, RERA, GST and COVID-19 in the last 6 years, industry experts feel the housing market is going through a lot of structural changes and is now at the start of a long-term upcycle. Homebuyers body FPCE gives credit to the Real Estate Regulatory Authority (RERA) under the Real Estate (Regulation & Development) Act, 2016 for this improved buying sentiment.
Hurun Report and GROHE India named Lodha Developers' M P Lodha and family as India's richest real estate entrepreneur with a wealth of Rs 31,960 crore, followed by DLF's vice chairman Rajiv Singh and Embassy group founder Jitendra Virwani in the second and third position respectively. Total wealth of top 100 Indians in the real estate sector stood at Rs 2,77,080 crore -- up 17 per cent against 2018. While Mumbai accounted for six of the top 10 and 37 of the 100 names, Delhi and Bengaluru had 19 residents each who featured on the list. Smita V Crishna of Godrej Properties featured as the richest woman.
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.
Commerce and Industry Minister Piyush Goyal that the players in the sector should start lowering prices and, if the worst comes to the worst, write off investment as bad business decisions.
Leading property developers, such as Oberoi Realty, Tata Realty and Infrastructure, and Hiranandani, have turned to redevelopment of existing buildings in the expensive parts of Mumbai as a way of augmenting revenue. Experts estimate that Mumbai's redevelopment projects could be worth Rs 30,000 crore. As such, they are not new. What is new is that the big developers are interested in them. Leading the race is Oberoi Realty, which has set up a separate team for these projects.
Experts say that the lockdown and its aftermath will further quicken the consolidation in the real estate sector, which has been taking place since 2012, with more small players going out of the business and bigger, branded players dominating the market.
A 5% increase is expected due to additional interest on approval costs.
Hiranandani Constructions' Managing Director Niranjan Hiranandani feels a 10-15 per cent hike is likely this year in residential properties.
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
Construction costs would be reduced to some extent and this benefit can be passed on to the customers, thereby spurring home buying
NRI demand would help offset the liquidity problem, which is presently affecting realty sales.
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.
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
'It just so happens that some amazing, true-life stories come my way.'
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
Warehousing and logistics segment has been among the most resilient asset classes in the pandemic.
Experts said the builders will now factor in their losses arising from the removal of input tax credit when they pass on the benefits to end users while the latter may want the entire GST cut to be given to them.
Land costs constitute 50 to 60 per cent of a project's overall costs.
Farmers too will get better deals
Reliance Industries and Nitesh Estates, a Bangalore-based real estate developer, are in the shortlist to buy Hindustan Unilever's Brookefields property in Bangalore.
Indian companies are expecting generous tax incentives from the Union Budget that will help them invest more in building capacities in the coming years. While the productivity-linked incentives (PLIs) are a good start to spur local manufacturing, the government should also take steps to boost consumer demand, which is not showing encouraging signs, say chief executive officers (CEOs) of India Inc. Statistics released by the Reserve Bank of India (RBI) shows that Indian banks had sanctioned loans worth Rs 75,558 crore in 220 new projects - a record low - in the pandemic-hit financial year ending March 2021. This is not showing any signs of a significant pick up in the last nine months of the ongoing financial year.
83% of the CEOS plan to hire more in the new year.
Around 576,000 housing units, worth Rs 4.64 trillion, are delayed in seven major cities of the country
Faced with slow offtake in big-ticket residential apartments, property developers are launching one bedroom (BHK) apartments to generate fast liquidity.
Disappointed with the RBI decision of not reducing policy rates, carmakers and real estate players today said the sectors, which are already reeling under a slump, will continue to suffer due to the high interest rate regime.
Raghavendra Kamath reports on what ails India's real estate sector.
Experts, however, caution that though the moves are positive for the sector as a whole, they don't expect much gain in the near-term.
Big Mumbai developers' inventory at Rs 53.4 crore.
With the insistence on data centres to be onshore, entities in real estate believe there is going to be a rise in demand for specialised Grade-A commercial spaces to set these up.
Several on-site labourers in the city want to take special trains being run to transport workers back home. The rising number of COVID-19 cases in the city has caused anxiety among them.
Hirco Plc, a real estate investment firm floated by Mumbai-based Hiranandani Group,on Monday announced an investment of pound 47.9 million (about Rs 400 crore) to develop a township in Chennai.
A decline in the real estate sector, rising debt and the company's alleged involvement in 2G scam caused damage to the business and its image.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances