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.
Although residential sales faced a major set back in Q2, they made a comeback with help of pent up demand.
Luxury carmaker Mercedes-Benz has submitted its interim report on the fatal accident of industrialist Cyrus Mistry to the Palghar police, which mentions that the brakes of the vehicle were pressed five seconds before it crashed into the road divider, a senior official said on Friday.
'When he was invited on Koffee With Karan, he did not ask for the questions beforehand, like many stars do.' 'Vijay was quite taken aback when Karan launched into a sex discourse.'
Mumbai police have arrested four persons for allegedly duping a housing society in suburban Kandivali by organising a COVID-19 vaccination camp fraudulently in the name of a private hospital, an official said on Friday.
"There was a very emotional reason why I took up this role," Taapsee said, even as Bhumi felt 'overwhelmed' and got teary-eyed.
Raksha Bandhan will release on November 5, 2021.
Durable goods companies and retailers say online sales won't compensate for the fall in offline sales.
Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc.
83% of the CEOS plan to hire more in the new year.
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.
Union ministry of home affairs changed its mind and gave bid clearance for Hiranandani Developers and its consortium partner, Zurich Airport
Registration of housing properties in the Mumbai municipal region increased 35 per cent year-on-year to 7,556 units during this month on rising demand, according to Knight Frank. The registrations for September 2021 were 87 per cent higher compared to the pre-pandemic period of September 2019. "Mumbai BMC region (Churchgate to Dahisar and Colaba to Mulund) recorded its best September month performance. Recording 35 per cent YoY growth in property registrations in September 2021, 7,556 units is a 10-year best performance in the month of September," Knight Frank said in a statement.
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.
The sentiment in the real estate industry turned optimistic during October-December 2020 and the outlook for the next six months is positive on the back of revival in demand for both residential and office properties, according to a survey by Knight Frank India-FICCI-Naredco. The 27th edition of 'Real Estate Sentiment Index Q4 2020 survey' of developers, banks, financial institutions and private equity players operating in the sector was released on Monday in a video-conference. As per the report, the 'Current Sentiments Score', for the first time in 2020, entered the optimistic zone at 54 points in Q4 (October-December) 2020, a significant jump of 14 points over the previous quarter.
Bollywood tells us that it's, in fact, all about loving your family! And so, film folk have often made films with their family members.
The Mumbai police has formed a special investigation team to probe a fake COVID-19 vaccination camp racket that took place in several places in the metropolis, leading to the arrest of 10 persons, a senior official said.
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.
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.
Warehousing and logistics segment has been among the most resilient asset classes in the pandemic.
With around 2 million Covid vaccine doses likely to get wasted in December, leading hospital chains have now started to give it gratis to citizens. Sohini Das and Ruchika Chitravanshi report.
The state government has announced a five-level plan to relax the coronavirus-induced restrictions in the state from Monday, based on the weekly positivity rate and the occupancy of oxygen beds. A notification to this effect was issued on Friday night.
'I felt a constant gag in my throat, and emerged from the movie somewhat mugged,' confesses Sreehari Nair.
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.
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.
Wednesday was a day of midweek celebrations!
'I suggest a cut in the GST rates and an infusion of Rs 1.2 trillion into the economy in six months.'
What does the National Educational Policy 2020 mean for students, parents and teachers?
Work on projects worth Rs 1,000 cr in full swing: Gift City
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.
NRI demand would help offset the liquidity problem, which is presently affecting realty sales.
They have shared quite a few pictures from the film and behind the scenes, and we bring them here.
In a chat with Raghavendra Kamath, the group's co-founder and managing director, Niranjan Hiranandani, talks about the company's plans and the property market in the country.
"We are developing two projects in Chennai and Panvel near Mumbai which will have both residential and commercial properties. We are going to put in $4-5 billion over a period of 10 years in completing these projects."
Falling sales since demonetisation has alarmed CEOs, who want to save cash till the economy recovers.
Around 576,000 housing units, worth Rs 4.64 trillion, are delayed in seven major cities of the country
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.
So which film is releasing at a theatre near you? We tell you, right here!
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