JLL had shortlisted over 10 developers and Embassy was selected after a long due and rigorous process of due diligence.
the 2015 figure also showed how developers had absorbed some of the increased holding costs.
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.
Consolidation is happening because of a prolonged slowdown in residential sales which has also brought down the business of brokerages.
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.
Rentals for office space in Mumbai rise around 5-10 per cent, says a survey.
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.
JLL study reveals 30,501 out of 44,032 units fall in this ticket size.
Real estate developers are increasingly reducing the size of apartments to make these affordable at a time when property markets are going through a prolonged slowdown.
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.
According to property consultant JLL, the vacancy in office spaces is expected to be around 13%.
Suburbs from Vile Parle to Goregaon have 205 unsold units.
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.
7.8 million square feet of mall space is under construction this year, the highest ever since 2011.
this move by the government is likely to iron out the current challenges for the NBFCs and in turn help the real estate sector.
10 malls expected to go off business this year
Unless you are very knowledgeable, seek expert advice before making such a high-ticket investment, cautions Sarbajeet K Sen.
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.
It is one of the three marquee hotels owned by Sahara outside India.
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.
Leasing activities of office and retail spaces would not be affected much.
In the NCR region, a significant number of residential projects in areas such as Noida have been delayed because of disputes with regards to land acquisition.
Demand for Grade A office space is rising across the country.
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.
Realtors are still flexible with buyers' demands.
Gurgaon and Bengaluru saw price appreciation of 52 per cent and 46 per cent, respectively, during this period.
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.
Investing in such properties is high-risk proposition, as developers do not have requisite approvals. At a later stage, projects can be delayed or even shelved for lack of funds.
Bengaluru has been ranked among top 20 technology-rich cities in the world in a survey done by Jones Lang LaSalle.
The earlier ambiguity over bifurcation of the state had affected the real estate business.
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.
High returns are a lure for investment in office space, but both loan-to-value and tenures are lower.
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.
Amid the perception of gloom and doom in the Indian property market, here's something to cheer about. The real estate industry has given 1.21 times, or 20 per cent, average returns to private equity (PE) investors in the past four years, compared to the global average of 0.8 times.
"Property prices are sub-set of demand. We do not foresee any negative impact on demand. Hence, the prices will not come down," Jones Lang LaSalle India (JLL, India) Chairman and Country Head Anuj Puri said, when asked about the likely impact of housing finance scam on property demand and prices.
To help revive the economy battered by COVID-19, Finance Minister Nirmala Sitharaman on Monday announced a slew of measures, including Rs 1.1 lakh crore credit guarantee scheme for improving health infrastructure, and enhancing the limit under the ECLGS by 50 per cent to Rs 4.5 lakh crore for the MSME sector facing liquidity crunch. Sharing the details of stimulus package, the finance minister said this comprises eight relief measures and other eight measures to support the economic growth. She announced Rs 1.1 lakh crore loan guarantee scheme for COVID-affected sectors, including health sector, which includes guarantee cover for expansion or for new projects. Besides, she said, additional Rs 1.5 lakh crore limit enhancement done for Emergency Credit Line Guarantee Scheme (ECLGS) scheme.
Goldman-HDFC JV and OYO Hotels & Homes are betting big on student housing, says Raghavendra Kamath.
Hospitality chains are hosting dual brands on one property, looking for operational efficiencies without diluting their brands, says Shivani Shinde Nadhe.
Office space rentals in India are expected to fall up to 20 per cent in the next three quarters, with key cities like Delhi and Mumbai slated to witness a sharp decline of 50 per cent.
