After a two-year lull, the deal pipeline in India's hospitality sector, which has witnessed a strong revival since the second wave of the pandemic receded, is running full. Family offices, high net-worth individuals (HNIs) and institutional investors are looking at the sector with renewed interest, according to investment and transaction advisory firms working on multiple deals. Most of them declined to divulge details of the deals for reasons of confidentiality. The cumulative debt of the tourism, hotels and restaurant sector rose 8.2 per cent year-on-year (YoY) to Rs 64,408 crore as of March 25, 2022 against Rs 59,519 crore on March 26, 2021, according to the Reserve Bank of India.
Housing sales are likely to be hit, especially in affordable and mid-income categories, following the RBI's decision to hike repo rate, according to real estate developers and consultants. However, the impact of RBI's decision to raise the benchmark lending rate by 50 basis points to 5.40 per cent is expected to be for a short term, they added. This is the third consecutive rate hike after a 40 basis points and 50 basis points increase in May and June, respectively.
7.8 million square feet of mall space is under construction this year, the highest ever since 2011.
Dubious and personal expenses of Rs 1,000 crore were made from bank-loan funds for Jet Airways founder Naresh Goyal and his family members even as the airline "diverted" money to some tax havens, the Enforcement Directorate (ED) alleged on Saturday, after arresting the businessman in a money-laundering case. Goyal (74) was taken into custody late on Friday night after the central probe agency took him to its Mumbai office from Delhi. A special court set up to deal with cases lodged under the Prevention of Money Laundering Act (PMLA) on Saturday sent him to the ED's custody for 10 days, till September 11.
Not just mid- and small-sized firms, even big ones will either sell group companies or stakes in their listed entities to tide over crisis; more sell-offs seen in coming months.
The rise of the mall in India, at a time when many in the United States are becoming debt-ridden white elephants.
REITs, a new investment avenue in India on the lines of one in developed markets like the US, UK, Japan.
Government officials be under confusion.
According to property consultant JLL, the vacancy in office spaces is expected to be around 13%.
The Coimbatore suburb has been growing significantly due to strong economic policies, says Naveen Nandwani.
Make sure buying a house won't lead to compromises on other crucial financial goals.
The logistics segment is becoming a hot favourite of private equity, of late.
The company is planning to invest Rs 1,100 crore in the new mobile phone manufacturing facility.
The expansion into smaller towns is coming at a time when the online retail space has not only seen consolidation but is actually looking to collaborate with physical stores. Abhineet Kumar reports.
Budget has proposed an additional deduction of Rs 1.5 lakh for interest paid on loans borrowed up to end-March, 2020 for purchase of an affordable house, valued up to 45 lakh.
Housing sales are estimated to rise 93 per cent year-on-year during April-June across seven major cities, but may fall 58 per cent compared to the previous quarter due to the adverse impact of the second wave of COVID-19, according to property consultant Anarock. Sales are likely to be around 24,570 units across seven major cities -- Delhi-NCR, Mumbai Metropolitan Region (MMR), Chennai, Kolkata, Bengaluru, Hyderabad and Pune, Anarock said. Sales of residential properties stood at 12,740 units in April-June 2020 and 58,290 units in March quarter 2021.
this move by the government is likely to iron out the current challenges for the NBFCs and in turn help the real estate sector.
As India builds its data centre capabilities, it is imperative that it is supported by green energy. This is because data centres are guzzlers of energy.
The sector's performance in delivery also saw a decline -- only 23.5 per cent of the committed units were delivered during the first six months of this year, show data from research firm PropEquity.
These cities are -- Mumbai Metropolitan Region (including Navi Mumbai & Thane), Pune, Noida (including Greater Noida & Yamuna Expressway), Gurugram (including Bhiwadi, Dharuhera & Sohna), Bengaluru, Chennai, Hyderabad, Kolkata and Ahmedabad.
Most players are looking to invest anywhere between $500 million and $1 billion in new ventures in the next couple of years, said experts on this segment.
Prices of all metals - from steel to copper, aluminium, zinc and lead - have shot up by about 5-11 per cent in the past month. Commodity inflation is raising its head, forcing companies to consider price hikes.
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
Navi Mumbai is emerging as the next big real estate location.
At a time when capital allocations to real estate are growing globally, investors are expecting transparency standards in real estate to be at par with other asset classes, says Anuj Puri.
A trust deficit had been building between developers and their customers, with massive incidence of project delays and deviations. Compliance with Rera is an opportunity to revive buyers' confidence.
Top 10 cities in the JLL index are Bengaluru, Ho Chi Minh City, Silicon Valley, Shanghai, Hyderabad, London, Austin, Hanoi, Boston and Nairobi.
The real estate industry today hailed the RBI's decision to cut key interest rate, saying the move will boost housing demand and also improve sentiments in the sluggish property market.
Effects of the new schemes launched under the Pradhan Mantri Awas Yojana would be felt more in tier-II and tier-III cities, as not many budget or affordable housing projects are in the works in metropolitan cities.
The Centre is considering relaxing some norms that led to the failure in attracting bids for assets of Bharat Sanchar Nigam (BSNL) and Mahanagar Telephone Nigam (MTNL) as they look to restart the auction for their non-core assets. The Department of Investment and Public Asset Management (DIPAM) had listed six properties of BSNL and MTNL for sale through its new e-bidding portal, developed by state-run MSTC, but the auction failed to garner an adequate interest. DIPAM had asked government-appointed property consultants to identify issues in the bidding criteria for resolution.
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.
Projects in Delhi-NCR, delayed by a much as 6-7 years
In 2017, absorption in co-working/serviced offices was 2.83 million sq ft, about 186 per cent higher than that of 1.52 million sq ft in 2016.
A revival in the sector is still 12-18 months away: Experts
Hailing clear majority for Narendra Modi-led BJP in the polls, real estate experts on Friday said a stable government at the Centre will help revive the property market.
The first ever auction of non-core assets through the Department of Investment and Public Asset Management's (DIPAM) asset monetisation portal has failed to garner adequate response for land assets of Bharat Sanchar Nigam Ltd (BSNL) that was expected to garner at least Rs 470 crore. The DIPAM has asked its property consultants to identify issues in the bidding criteria that can be resolved. In November 2021, the DIPAM had listed six properties of BSNL and MTNL for sale through its new e-bidding portal for asset monetisation portal developed by state-run MSTC.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
Tier-II cities are all set to witness good retail growth in near future.
Consolidation is happening because of a prolonged slowdown in residential sales which has also brought down the business of brokerages.
Mannapuram Finance, Mahindra and Bharti Axa are some of the firms known to have bought office spaces worth more than Rs 100 crore
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